This is how I see this pair could play out.
As always, trade with care and trade what you see!
I may have my counts wrong, not that pro of a wave trader!
Over the last week or so we have hit the a,b and c legs of a possible Bullish cypher.
Looking at the RSI there is some bearish divergence. If this continues it should take us down to complete at point D and be in the oversold area of the RSI.
There is a possible opportunity to get short down to the 0.67242 area. Would also be looking for an entry around this...
As we know, NZDUSD is overwhelmingly bearish. This looks like a good opportunity for both pattern traders, and the trend continuation crowd.
We all know the risks inherent into blindly trading butterflies, as you are essentially buying or selling a break of structure. However this time looking left, we see some minor structure levels if we are to expand our...
