It has been so on NZDUSD since August, and it bounced more than 200 pips to stand on 0.7000 again.
Here, there is an inside day yesterday, and this chart I drew can create a clear mindset for the following movement.
Whichever direction it goes, I'll have some strategies to trade.
1 is the simplest but most risky one, which relies on pure momentum to long the inside day breakout in a somewhat extended .
2 is waiting for the momentum to reach a and a pattern to short
3 is an inside day breakdown short, with a and correction combination.
4 is 2618, XYAB, and long.
Among these 4 strategies, my personal preference is 3>4=2>1.
Let's see how it goes!
http://tradingview.go2cloud.org/SH1RI (link to TradingView live chart)
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2 is on the corner,let's see if we got any reversal sign there