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07-07-08, 03:34 PM
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| NZD/USD Symmetrical Triangle Looking at the daily NZD/USD we can see pressure building along the lower trend line of the symmetrical triangle -beneath we have support at the double bottom in the 0.7369 area - adding to the bear case we are trading below the 200 period SMA and selling momentum is strong as reflected in RSI: http://www.traderslog.com/forum/showthread.php?t=10827 |
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07-07-08, 04:09 PM
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| Re: NZD/USD Symmetrical Triangle Hold your horses..go back a little farther and you'll see the larger rising wedge...if you duplicate the trendline YOU have on the top...and set it on the last two bottoms you will get a channel leading you to the lower trendline of the rising wedge...I agree we eventually break down, but down is limited for the time being most likely...just be careful......good luck Last edited by golhuntsleep; 07-07-08 at 04:13 PM.           |
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