NZDUSD Trade Setup Whether We Reverse Or Not

HELLO TRADERS,

This trade setup reasoning is simple. We have been in a major down trend and this could be the bigger reversal to the upside. If it is not then you will most likely not get tagged in the trade and you will be safe. If you do get spiked in and the market doesn't push up, you will be able to manage the trade for minimal loss or even break even.

Note: The chart doesn't have to completely reverse for this trade to be successful. We could just get an ABC correction pattern where you will hit your tp before going back down to make new lows, if that is what's going to happen instead.

I am looking at a standard 1-2-3 corrective pattern / pre-longed 'start' of the reversal. The corrective structure is looking to be completed very soon.


Check out some of my other ideas posted under 'related ideas' down below.
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THANK YOU & GOOD LUCK!!

Ordre annulé:

The pull-back was deeper than expected so we will cancel the orders we have and look for a new setup! I will keep you guys posted.