Sell Setup on NZDUSD
Looking at NzdUsd, we could be seeing a potential sell setup forming. Price has been creating relatively downtrend structure ever since we've ran into the long term Non-Horizontal Resistance Level.
Throughout this "choppy" downtrend structure that price action has been creating, there's an interesting pivot point that could potentially drive price towards the downside. This pivot point is comprised of a Significant Horizontal Daily Level and a Non-Horizontal Daily Level. I'll be waiting for price to exhibit strong bearish rejection away from this area before placing any sell orders.
Throughout this "choppy" downtrend structure that price action has been creating, there's an interesting pivot point that could potentially drive price towards the downside. This pivot point is comprised of a Significant Horizontal Daily Level and a Non-Horizontal Daily Level. I'll be waiting for price to exhibit strong bearish rejection away from this area before placing any sell orders.
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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.