Greeting everyone, it's been a while since I posted but let's get to it
These are my reason why NZDUSD will shoot down
1. As we can see our Uptrend Trendline was broken, this shows us a sign of bear/sellers coming into play to push the price down
2. Price failed to create a New Higher High showing that bulls/buyers are losing momentum to push the price higher, meaning sellers are gaining strength, furthermore we can see the formation of Double top
3. Our Major Low(NECKLINE) which was the final mark of Uptrend was broken meaning sellers
are more than buyers and the price will Push down
Best time to enter?
It would be to wait for a clear powerful breakout of sellers and a retest of the Major low, this will confirm that sellers are in total control indeed, then enter all the way to TP1/ Major Key Level
Best of luck traders
These are my reason why NZDUSD will shoot down
1. As we can see our Uptrend Trendline was broken, this shows us a sign of bear/sellers coming into play to push the price down
2. Price failed to create a New Higher High showing that bulls/buyers are losing momentum to push the price higher, meaning sellers are gaining strength, furthermore we can see the formation of Double top
3. Our Major Low(NECKLINE) which was the final mark of Uptrend was broken meaning sellers
are more than buyers and the price will Push down
Best time to enter?
It would be to wait for a clear powerful breakout of sellers and a retest of the Major low, this will confirm that sellers are in total control indeed, then enter all the way to TP1/ Major Key Level
Best of luck traders
Order cancelled
It appears the market didn't give us the deep breakout we were looking for, but this doesn't mean the market will go up, we still have a selling chance, let's wait for a breakout of the new low that formed. If it happens I will share the Idea(analysis)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.