NZSUSD: trend reversal through a bearish pattern
A Wedge reversal pattern has formed on the chart. Elements of the pattern: a clear trend preceding the formation (for this example, an upward trend), at least 5 touches of trend lines, a mandatory narrowing of the movement zone and a decrease in the volume of price fluctuations.
The pattern will be fully completed after the breakdown of the 0.714 trend line. Only after the breakout (and ideally, fixing on the line) can you enter the market and start selling. The price should drop by the volume of the previous trend to position 0.701
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
The pattern will be fully completed after the breakdown of the 0.714 trend line. Only after the breakout (and ideally, fixing on the line) can you enter the market and start selling. The price should drop by the volume of the previous trend to position 0.701
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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