NZD/USD 5 DECEMBER 2016 4HOUR

We exited our long trade at break-even during the Asian session (posted on twitter). Price then gave us a BF signal and we went short on that signal. Stops are at 50 pips and limits are set inside the 786. We are looking for price to fall to that level over coming sessions. We will then look to see if we get a clear bullish cs formation down at the 786.

We maintain our bullish bias while the A low holds. Only a sustained break of the low negates this outlook.

FOR TODAY: Will be going short if:
We are short this pair since price gave us a BF entry during the Asian session.We are looking for price to fall down to the 786 over coming sessions. Our stops and limits are in place. If we get stopped out and price gives us another BF entry then we will short again.

FOR TODAY: Will be going long if:
No long setups at present. we need price down at the 618 for DD entry, or lower down at the 786 followed by a clear bullish cs formation for a long entry. we continue to be patient.