pagination on custom post wp_query

Question

<?php
        $paged = (get_query_var('paged')) ? get_query_var('paged') : 1;
        $loop = new WP_Query(
            array(
                'post_type' => 'html5-blank',
                'posts_per_page' => 5,
                'paged'=>$paged
            )
        );
?>
<?php if ($loop->have_posts()): while ($loop->have_posts()) : $loop->the_post(); ?>      
 //Loop Code Here..
 <?php wp_reset_query(); ?> 
   <nav>
        <?php previous_posts_link( 'Newer posts &raquo;' ); ?>
        <?php next_posts_link('Older &raquo;') ?>
    </nav>
<?php endwhile; ?>
<?php else: ?>

Url on next page as I input result is: www.mywebsite.com/blog/page/2 is WORKING. But I can't show the pagination links.

Where did it go wrong?

EDIT: Pagination link is showing in page/2/ but not in the main blog page. Why?

Answer 1

I think you put <?php wp_reset_query(); ?> in the wrong place.. shouldn't it be next or after pagination codes?

something like this

<?php endwhile; ?>
<?php else: ?>
<?php wp_reset_query(); ?>

Answer 2

This question was answered very adequately by @Trevor but I needed to implement numbered pagination, and there was a bit more research to do. I hope my code helps others implement numbered pagination.

    <div class="frontpage-posts">
        <?php
        if (get_query_var('paged')) {
          $paged = get_query_var('paged');
        } elseif (get_query_var('page')) {
          $paged = get_query_var('page');
        } else {
          $paged = 1;
        }
        $temp = $wp_query;
        $wp_query = null;
        $wp_query = new WP_Query('posts_per_page=12&paged=' . $paged);
        if ($wp_query->have_posts()) :
          while ($wp_query->have_posts()) : $wp_query->the_post();
            echo the_title();
          endwhile; ?>
          <nav>
            <?php
            the_posts_pagination(array(
              'mid_size'  => 2,
              'prev_text' => __('Back', 'textdomain'),
              'next_text' => __('Onward', 'textdomain'),
            ));
            ?>
          </nav>
        <?php
          $wp_query = null;
          $wp_query = $temp;
          wp_reset_postdata();
        endif;
        ?>
      </div>