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Intraday commentary on patterns

NZDUSD Three Inside Down 4-Hour Chart

Tue, Aug 28 2012, 14:03 GMT
by Mark De La Paz | FX Instructor

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Resistance: 0.8052 minor/0.8067 moderate/0.8096 strong

Support: 0.8023 minor

The 4-Hour NZDUSD chart has a high credibility bearish pattern, Three Inside Down. Though already in a bear market price action is now overextended suggesting caution should be taken for new shorts unless a swing trader. Existing sells however should stay short for possible further losses with a stop loss above the pattern high.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices

Published On Tue, Aug 28 2012, 14:05 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

NZDUSD Three Inside Down 4-Hour Chart

Daily Live Trading Room

Mark De La Paz

Also Read

Legal disclaimer and risk disclosure

Tracing the Debt Crisis

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