This is a follow up for my two previous NZDUSD ideas:
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 www.myfxbook.com/mem.../tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Good luck!
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 www.myfxbook.com/mem.../tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Good luck!
