NZD/USD - Bear Flag

30 May 2018

Short-term play. It looks to have formed an ABC bear flag. Possible it rises up again to test resistance, but we are coming to a close of the C wave, which was very impulsive, but sentiment is still bearish, and the count seems to validate another move down. Just targeting a swing low at .68254. But you could target the support line at the bottom at .67399.

RSI shows some bearish divergence between the height of wave A and C, but will not be confirmed until wave C is truly confirmed to be over.

30 May 2018

Not

just shot up to the upper parallel resistance. Not would be a goo place to short.

30 May 2018

Not

This is looking very bullish. But indicators are showing against this move. Time will tell.

30 May 2018

Not

Interesting moment coming up, which may make or break this short trade.