FX_IDC:NZDUSD   NEW ZEALAND DOLLAR / US DOLLAR
62 0 4
3 months ago
Trading this pair on price action and fundamentals. As this is a long term trade, we need to look at the NZD & USD outlook going into the next Qtr. Bottom line, I'm bullish USD & am changing my bullish stance on NZD to bearish .

From a price action & structure perspective, we can see the bearish flag on the weekly chart poised for some downside moves. We are at the top of the channel, so some good R/R on offer. I am waiting for an entry signal on the 1hr chart to go short so that we maximize our position.

Disclaimer, disclaimer, not financial advice, trade your own plan, etc. etc.

Good luck & green trades!
3 months ago
Comment: Price hit the top of the ascending channel and was rejected. Nice shooting star forming on the weekly chart. Also, I have seen other ideas talking about bearish bat patterns with higher D's however, I also have to note that there are 2 alternative bearish bat formations with a D @ 0.7481 and a trading range between this D and 0.7788 (the 261.8% extension of the BCD leg). Therefore, I am looking at the top of the channel as resistance, price action and a completed bearish bat to enter my trade now. TP at the bottom of the channel (also TP2 on my harmonic trading plan) TP=0.6805.

Green trades
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