EURNZD: Completed bearish BAT pattern
Completed bearish BAT pattern. Be careful as the trend to upside is really strong and the price can goes deep in the red zone. Also if we see on the daily chart the price can retest the 200 EMA before correction as it is too near.
Comment:
Picture on Daily time frame.
Comment:
Be careful on this pattern as the price keeps extending and it look that we are on the 5-th extended wave of a 3-rd extended wave by itself. So better to stay out of this pattern for a little while. It can end very soon or it can keeps extending. So in both situations it's difficult to take a decision.We don't have divergences as yet to confirm any Sell. When it will finish with upside it will give us a bearish pattern before correction.
Be careful on this pattern as the price keeps extending and it look that we are on the 5-th extended wave of a 3-rd extended wave by itself. So better to stay out of this pattern for a little while. It can end very soon or it can keeps extending. So in both situations it's difficult to take a decision.We don't have divergences as yet to confirm any Sell. When it will finish with upside it will give us a bearish pattern before correction.
Comment:
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