Bias for bullish direction
- Possible ABC trend continuation
- Daily Bullish rising wedge pattern due to make new highs
- Completion of bullish cypher pattern
- Break below orange 0.382 Fib would show more correction to the 0.382 Larger timeframe fib
In my previous post i thought price action would reverse at the powerful 6.18 fib
now it seems that price must show some bullish direction after hitting the 786
any movement below the green support szone would make my analysis invalid.
If i get stopped out thats fine, decent risk to reward if price goes in my ...
- Bull Run seems exhausted
- Candlesticks aren't as strong
- If recent price action fails to make a new high than we might see some corrective structure
- Price action could only form a small flag and still push to make new highs past 0.5 Fib
- Counter Trend, so trading this is risky.
- Price action already showing bullish direction
- Pair has hit 0.786 fib retracement of 1-2 Inpulse leg
- NZD has still maintained a bullish bias
- 0.382 / 0.618 confluence of both impulse and corrective legs
- Possible ABC pattern forming
- Bears need to take a breath and enjoy some profits
Price action has leveled off and showing signs of bullish direction.
Probobly rate cut coming up tonight could skyrocket this pair!@#
Also this pair has finished correcting and ready for another leg up!