short nzdusd as price looks to be in the final wave. this completes the wave v of 5 of (III). stop loss is around 70 pips whereas take profit is around 455 pips. also you can take profit at wave iv of the minor wave. (a guideline in the wave rule)
SELL NZDUSD TO 38.2 OF MY FIBONACCI LEVEL... HOWEVER WAVE IV(UPCOMING BEAR MOVE) CANNOT OVERLAP WITH WAVE I ... RISKING 47PIPS FOR 120PIPS...ALSO ONE GUIDELINE WE MUST TAKE NOTE IS SINCE WAVE II WAS A DEEPER RETRACEMENT, 23.8 FIB IS ALSO LIKELY TO HAPPEN SINCE CORRECTION II AND IV ALTERNATE
Price found support and has been consolidating after a long downtrend.
The previous weekly candlestick was a large bullish candle, which showed there was a significant amount of bullish pressure.
Price appear to have found support and formed a double bottom, which is a bullish candlestick pattern.
After the formation of the double...
Taking this continuation short after this pullback, already a few positions short. Price broke free of the 4hr trendline yesterday. This pullback was not too strong, so I will endeavor to make this position risk free as soon as I can!
Price has continued it’s downward trend and is currently retracing.
Look for any opportunities to short when it touches trendline and precious resistance between 0.588 and and 0.59 area.
Price may retest the 50ma and make an impulsive move downwards.
Trade wisely & hustle folks.
Patience is 🔑
A bearish Gartley has formed on NZDUSD however am still expecting an extension of the D leg before shorting more. I will be looking for more bearish evidence on this level 0.7000 This is a potential metric point for the reversal to occur. Use proper money management. All the best friends
If the price keeps rising correctively I will look to sell for short term as much high as possible. Watch the price action at the bottom trend line, price can revert from that point.