Godal Member's, Traders and Aspiring Traders . Todays shared post is on .
Pair : NZDUSD
Time-Frame : Daily
Biased - Bearish
Pattern : Bearish Flag
Outlook : As the chart / price action shows since 26th of march where the first green arrow is , price action has steadily been retracting back to previous support that was broken on the 23rd of march making it new formed resistant zone ( red line ). Which is yet to be tested.
As price action has been raising a support and resistant trendline has been able to be allocated due to respected rejections , which is represented with the red and green arrows.
This formation of candles is forming a potential continuation pattern called Bearish Flag . ( small diagram on the chart )
So now I will be waiting for the break of the lower trendline and a retest for potential short opportunities if my personal entry criteria presents it self.
Small extra note : Compliments my personal named I.P.C method
Pair : NZDUSD
Time-Frame : Daily
Biased - Bearish
Pattern : Bearish Flag
Outlook : As the chart / price action shows since 26th of march where the first green arrow is , price action has steadily been retracting back to previous support that was broken on the 23rd of march making it new formed resistant zone ( red line ). Which is yet to be tested.
As price action has been raising a support and resistant trendline has been able to be allocated due to respected rejections , which is represented with the red and green arrows.
This formation of candles is forming a potential continuation pattern called Bearish Flag . ( small diagram on the chart )
So now I will be waiting for the break of the lower trendline and a retest for potential short opportunities if my personal entry criteria presents it self.
Small extra note : Compliments my personal named I.P.C method