NZDUSD long
On the daily/weekly timeframe NZDUSD is clearly in an impulsive run to the downside. However on the 4h price had started to trickle down more correctively beneath a previous key low before shooting back above this key area and forming a bull flag on the hourly to indicate further continuation to the upside. Structurally it is clear that NZDUSD is in need of a larger correction before any further big moves to the downside, so I am counter-long before looking for potential shorts around my profit target. I am currently in a buy risking 1% and will be looking to trail my SL accordingly if price continues to move upwards.
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