Buy to Sell NZDUSD!!!From a weekly perspective, we are coming from:
- inverted volume gap
- orderblock
The DoL is to the upside
Specifically the swing high points, Lq1 (0.62992) Lq 2 (0.63696) etc,
Going into next week we expect a continuation of that bullish momentum to retest the weekly OB and then get the pullback.
Daily Swig Structure = Bullish
Daily Internal Structure = Bullish
Daily Fractal Structure = Bullish
We trade the immediate structure.
Our Immediate structure is the internal Structure, which is bullish.
This means that we have no business selling this currency, we should only be looking for buying opportunities for better odds of success.
We know we are buying but where are we buying from?
Price moves in phases:
1. Phase 1 - Break of structure.
2. Phase 2 - Retest of the previous structure.
3. Phase 3 - Continuation of the dominant trend.
Since we are trading the internal structure,we have to examine the phase price is in:
===> we are in phase 2.
As long as price has not taken out the Internal targeted High, we can assume that price is not yet done and we may actually get a bearish pressure.
However, NZDUSD has show alot of bullishness and for a good reason. Looking at the weekly, we are coming off a strong Orderblock/support level.
In essence, we have mitigated the first weekly imbalance and therefore the DoL is to the upside targeting the Swing Highs.
That forms a good narrative and logic for why we may see a continued pressure.
Now that we know the DoL is to the upside, we need to assess where we should buy from.
Our lower timeframes gives us the answer to that, as in Set Up 1.
Also, we should not that on the daily timeframe, we had a volume gap (0.62434 & 0.62496), if price closes above the gap, and breaks the Fractal High, we should look for entry opportunities at that Inverted FVG as in Set Up 2.
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4hrly Swing Structure = Bullish
4hrly Internal Structure = Bearish
4hrly Fractal Structure = Bullish
We trade the immediate structure.
The 4hrly internal Structure is our immediate structure.
Price is in phase 2.
We need to get involved in phase 3 of price.
We can see that the internal structure switched bearish. This could be interpreted as the first confirmation that the 4hrly swing pullback has started.
The fractal market switching bearish was the first signal, but now the internal switching is a more powerful confirmation.
Understanding this narrative, we may see price actually falling. What gives us the confidence that internal pullback is over?
===> When we get the Break of fractal targeted Low.
We have to be smart about how we trade this;
We have an orderblock above the fractal targeted high and price may reach this order block first before we see price melting to the downside.
So in essence, we have to follow the fractal orderflow which is bullish until we get to our OB. If we close abov our 4H targeted high, our set up is invalidated
Notice also how after taking the liquidity above the FOMC Candle price has started consolidating. this is building liquidity.
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15mins Swing Structure = Bullish
15Mins Internal Structure = Bullish
15mins Fractal Structure = Bullish
What is the narrative?
We need to buy, tap into a HTF OB then sell this market.
But where are we buying from?
Well, look at the 15 mins, we have two clean orderblocks
