Which way will the Kiwi go??

Afternoon Dynamic Traders

Apologies for the delay in my update, I’ve had rather a busy morning.

I would like to share with you know some thoughts I have had in regards to where the price might be going!
This week I have been referring to price being in a bullish flag. This would have been confirmed if price beats the previous pivot high at the RN. However if price doesn’t beat this pivot high, we could be in for a reversal. This reversal will arrive in the form of a 123 top. This 123 top is confirmed with convergence from the MACD. However this is still only speculation, because 2 confluences of events is not enough for me according to my TP. If it is a 123 top it might be a good idea to get ready for it.














A problem with this theory for me is that on certain lower time frames a different story is being told. A second problem with this theory is that price did fall to a fib breather level, so a continuation is also on the cards.
What do we do? As always it is a waiting game, but as the Cub Scouts always say “be prepared”! This is very important, because easy money can be made here if you are ready.

Happy Trading

Richard Monnery