Friday, October 16, 2009

IS NZDUSD READY FOR A 200PIPS DROP?




Daily TF: Divergence spotted on daily TF around R. this tells me a possible bearish run to next support as indicated on the chart.



1hr TF: Bullish channel broken with the next low taken out, this confirm my shift in bias to bear, tentatively on this pair............... we watch out for a retracement to the back of the TL and short to the daily support line.

price might form a bearish crown or might just drop. but i will wait for a pull back

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