NZDUSD has recently given us the perfect impulse, correct, impulse move, which is probably our favourite pattern to trade.
The market moves in waves. There's an impulse wave, followed by a brief period of consolidation/correction where buyers and sellers accumulate their orders. This is often followed by another impulse wave in the same initial direction as the first impulse.
The great thing about these patterns is that we can have a clear stop placement, which is above the correction. If you have a closer look at this chart, you will be able to notice various impulse waves followed by corrections.
Excellent work as always. The impulse after the bear flag 'coincidentally' occurred after some bad NZD news about their house prices. They always have excuses to explain these movements haha!
WicktatorFX
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@AhmadRafizi, I know right! Fundamentals just provide the volatility but the overall technical analysis plays out! I'm planning on incorporating news events into the analysis soon. I'll hit you up for your thoughts if that's alright :)
AhmadRafizi
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@Wicktator, sounds great, absolutely!
Profound_Ambition
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Very clean work bro!
WicktatorFX
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@eazywayout, thanks Sivan πͺπΌ
capableSnow81789
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I really like your charts and did well on the CHFJBP, thanks (!) but from this I can't tell if it's likely to impulse again or the large drop may reverse the pattern?
Iβll be posting an update soon on how you can get it on the next drop. Weβre expecting this to drop further. Keep an eye out for the update and join the telegram group if you havenβt done so already ππΌ