NZDUSD: Much Indecision

29 בספט׳ 2019

hey traders,

nzdusd is standing on a 6 years low on a weekly.
recent false breakout of a previous structure low on a daily leaves us clues
that bearish pressure is exhausted.

currently, the market is started to contract within a symmetrical triangle formation
- a clear indication of high indecision.

though according to a common rule, we trade such triangle, waiting for a breakout and the side of breakout does not matter,
I will trade only in case of a bullish breakout following my observations of weekly and daily charts .

target levels will be 0.6345 and 0.6395

stop goes below the last higher low of a triangle.

*if you like this idea, please, like it and leave a comment! thanks :)