this is the analysis that i had decided to take. I am nowhere near a pro trader and this is just a good idea i thought.
there is a head and shoulder pattern which indicates a short position after the long wave that occured. Be careful because of the news as the NZD trade balance will come out and is looking strong, so will cause an slight price increase for a short period (dont set SL too steep). The end of the Wave finished indicated at "E" and then started the pull back indicated by "1", looking for it to carry on shorting.
let me know what you think, or what can be improved!
there is a head and shoulder pattern which indicates a short position after the long wave that occured. Be careful because of the news as the NZD trade balance will come out and is looking strong, so will cause an slight price increase for a short period (dont set SL too steep). The end of the Wave finished indicated at "E" and then started the pull back indicated by "1", looking for it to carry on shorting.
let me know what you think, or what can be improved!
Trade closed: target reached:
PIPS!
looking to hold onto the position for around 2 weeks and then close the position for some profits!!!!