Hey guys, i've been looking for this setup to complete for a very long time, now price has finally finished the AB=CD patterns i was paying attention to. The reason why i was so interested in these pattern is because their completion point line up pretty well with a daily and weekly structure looking left. Besides, also the 382 retracement of the bigger impulse lies right around there. The RSI is in oversold condition so we can start looking for price action in order to long this pair. Keep you updated!
If you want to share your view, or just ask questions, feel free to comment below. Otherwise, see you in the next chart!
For reasons disimilar to yours (except the RSI) I agree
Roker1
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@Glendooie, great!
Glendoonie
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@Roker1, My AUD/NXD trade fell sharply about 3 hours ago. I suppose this announcement,
"New Zealand Q1 Consumer Price Index Rises 2.2%, Beating Forecasts" had something to do with it.
I never understand the FOREX implications of those annoncements so I tend to ignore them. Once all the fuss has died down I'm thinking the NZD will start behaving as it was.
Glendoonie
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@Glendooie, My stops were not hit so I won't be bailing out of the AUD/NZD trade any time soon.
Glendoonie
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@Glendooie, I may repeat yesterday's exercise. The only thing that changed here was the announcenent of the blessed CPI. I'm no economist :-)