NZDUSD about to speak its mind soon? Continuation or Reversal?
Current pattern resembles a spike and ledge consolidation pattern which can go either direction. I lean towards using it for reversal trades but it can also be a continuation pattern. What's interesting here is that the ledge structure is an ascending triangle. If this is confusing other traders like it is confusing me, we might see more trading range price action going forward. Today's false intra-day breakout above .7240 seems to be evidence of this.
I am forcing myself to be neutral but I do favor a break lower for a potential major trend reversal.
I am forcing myself to be neutral but I do favor a break lower for a potential major trend reversal.
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