NZFCHF: ABCD Pattern in the making?

2020-01-24 07:27:42

Week to week, we can see that price is in a downtrend. Even though D1 ended with a Bullish candle(23 Jan), I see this as a Bull trap. Right above, we can see that we are approaching a DBD. And looking left, we can see that the SZ is in line with a few structure low(FZ). Dropping down to H4, we can clearly see a potential ABCD pattern in the making. I will be looking to go SHORT at the highlighted area.

DBD - Drop Base Drop
SZ - Supply Zone
FZ - Flip Zone(Support turn resistance & vice versa)

#Telegram https://t.me/OFPA_FX

DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.