NZDUSD a trade will present itself soon

29 Eyl 2016

I've been posting about the NZDUSD a lot lately and the shorts worked out good. However I can't emphasize enough that we are in an ending structure and that can extent many times. So keep an open mind at all times. We are seeing a classical reversal pattern and what's most important is that the 'third' leg lower after the first consolidation only made a slightly lower low. That's not a characteristic of a wave 3 and not even of that of a wave C. So I wouldn't be surprised to see a deeper correction either by means of an expanded flat or a reversal all together for another new high.

Nevertheless we trade what we see and the arrows are indicative but all show you to wait for a confirmation whether the move will be bullish or bearish. Below I will show two counts for both bearish and bullish outlook so you have an idea of how to anticipate once the market starts to show an impulse. (not a move but an impulse followed by a consolidation)

29 Eyl 2016

Not

bearish scenario

29 Eyl 2016

Not

bullish scenario