Bullish Shark NZDUSD

Apr 28, 2022

Swimming with the sharks. The 1.13 as a reversal point (rather than a new low/trend continuation) always feels risky, but we're trading harmonic patterns so there shouldn't be any room for emotions. We're in the buy zone and TP should at least partly be between 0.6557 (1.0 reciprocal ABCD) or ideally 0.6810 (61.8) since the ABCD completes above the 50% retracement. In my experience, sharks often move beyond these zones and turn into 'homeruns', beyond the 61.8 so watch price action around there. However, a partial TP should be mandatory as it could just as well (temporarely or for a complete reversal) move backdown at the 5.0. Actually, that should be expected.

Apr 29, 2022

Trade active

Weird price action on this last trading day of April. The 1.13 XD is holding, so far. and 1.272 is the limit.