PRICE ACTION
Updated
NZDCAD
Price is in the weekly supply zone.
Daily time frame structure shows BULLS has taken control over BEARS.
FIGURE 01 is the 4Hour price action chart.
What does the structure mean?
Mean that SELLRS are willing to play Daily time frame pullback.
To where? ZONE 01 or ZONE 02?
ZONE 01 is the most probable zone for price to reach and play continuation of the bull movement of daily timeframe.
Why not ZONE 02?
For price to reach ZONE 02 it depends on the price action in ZONE 01. watch out as price reaches zone 01.
What to do with now moment.? Is to play the daily pullback toward ZONE 01.
where to join the crowd at this moment.? Around 0.84016 and stop level above the high of the previous day higher price.
STAY UPDATE. SHARE WITH FRIENDS. DROP YOUR COMMENT
Price is in the weekly supply zone.
Daily time frame structure shows BULLS has taken control over BEARS.
FIGURE 01 is the 4Hour price action chart.
What does the structure mean?
Mean that SELLRS are willing to play Daily time frame pullback.
To where? ZONE 01 or ZONE 02?
ZONE 01 is the most probable zone for price to reach and play continuation of the bull movement of daily timeframe.
Why not ZONE 02?
For price to reach ZONE 02 it depends on the price action in ZONE 01. watch out as price reaches zone 01.
What to do with now moment.? Is to play the daily pullback toward ZONE 01.
where to join the crowd at this moment.? Around 0.84016 and stop level above the high of the previous day higher price.
STAY UPDATE. SHARE WITH FRIENDS. DROP YOUR COMMENT
Note
Price has reach ZONE 01.You can go LONG and stop level below it.
Note
You can take a partial profit at current price and a second take profit will be in FIGURE 01 highlighted zoneNote
Still sellers have control over buyers. Let´s wait for more confirmation to go LONG.
For aggressive entry you can go LONG in current price as the price is at low discount and in the daily demand zone and stop below it.
Don´t forget to manage your risk (i mean risk amount of money your comfortable with).
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