Weekly Marubuzu Candle & Hourly Bearish Patterns

3 בדצמ׳ 2023

NZDUSD presents a Bearish Butterfly Pattern on the Daily Chart, tempting many traders to consider shorting.

However, a note of caution: ensure the candle breaks and closes above the PRZ (red box) for confirmation before proceeding.

My strategy leans towards prudence, awaiting further validation through the Bearish Shark Pattern on the 1-hourly chart at 0.6219.

This approach not only reduces risk but also offers better returns, granting additional confirmation before entering the trade.

What's your take or trade plan on NZDUSD?
Share your insights below!