Bearish bat in the making
This is a follow up for my two previous NZDUSD ideas:
tradingview.com/v/8y3c8Hcn/
tradingview.com/v/KN967EYw/
We moved lower as expected then got a strong reaction at
the .84 figure, which could be seen as an impulse, but wave 2
and wave x (in complex corrections) are always very strong
because the market has not made up its mind.
In other words, this could very well be a corrective move.
A new high towards .874 and the a break below .8550 would
give us some conformation that we are going below .84
The alt. view (chart below) would be that the move from
may high was a complex correction. A break above .8780
would put the alt. view in play.
Follow all my demo trades at myfxbook.com/members/tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Good luck!
tradingview.com/v/8y3c8Hcn/
tradingview.com/v/KN967EYw/
We moved lower as expected then got a strong reaction at
the .84 figure, which could be seen as an impulse, but wave 2
and wave x (in complex corrections) are always very strong
because the market has not made up its mind.
In other words, this could very well be a corrective move.
A new high towards .874 and the a break below .8550 would
give us some conformation that we are going below .84
The alt. view (chart below) would be that the move from
may high was a complex correction. A break above .8780
would put the alt. view in play.
Follow all my demo trades at myfxbook.com/members/tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Good luck!
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