NZDCHF Analysis: Downtown...?
Updated
NZDCHF has hit a HTF bearish order block, and may be indicating a bearish response. Price has formed a 1H OB here, and price dropped a bit, and is now returning for a retest of the OB. I expect further declines. If price breaks the high of the OB, this invalidates this short setup. 0.65500 is the area I am watching for signs of reversal.
Look for your confirmations before entering any trade. No confirmations, no trade!
Look for your confirmations before entering any trade. No confirmations, no trade!
Comment
Price went to the top of the order block I highlighted in the video, and breached the high.... grabbing liquidity ... before dropping.
This does not invalidate the OB, imo, because there was no close above the high.
Price did ultimately turn from bullish to bearish momentum. Further declines may be forthcoming.
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