RaynLim

NZDUSD - Descending Triangle

Short
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
It is common for an analyst who shares 2 trading strategies within a single chart to have an opposing view or strategy.

Well not for NZDUSD on the 4-hourly chart. There is a Descending Triangle that offers breakout traders to look for a shorting opportunity once the market break and close below 0.6980. Conservative traders can wait for a retracement and engage the trade.

Harmonic Pattern Traders can wait for the market to retrace back to 0.7155 to engage the trade through the Bearish Shark Pattern setup. One must be aware that a Shark Pattern can offer up to 3 different entry prices. Yes! Three.

What's more important is to plan your trade and trade your plan.

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