USDNZD [SHORT] Descending Channel Similar Triangles
Updated
Observation
- Upward movement slope SIMILAR from strong uptrend on previous price action.
- Downward movement slope SIMILAR from small downtrend on previous action.
- Each price deflection are in the areas of Shortage and Surplus Zone.
Analysis
Form 2 similar triangles inside the Descending Channel for price prediction.
- Upward movement slope SIMILAR from strong uptrend on previous price action.
- Downward movement slope SIMILAR from small downtrend on previous action.
- Each price deflection are in the areas of Shortage and Surplus Zone.
Analysis
Form 2 similar triangles inside the Descending Channel for price prediction.
Note
The point of constructing channel is not to pin point where will be the price at this time but rather to have a tool for estimating the direction of the market. Now the market just break out from the channels.
Note
Price escape downward channel and now change downward trend to playing around support area (blue box). Once price jumps out of the blue box, it is a good sign of a bullish trend.
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