this morning i want to share with you this setup i've noticed on this pair.
Price has approached a resistance structure zone on Wednesday, and since then it's failed to create new highs and so it gave me reason to believe this is a good zone to short the market.
In the we've recently exited an overbought condition and here on the 4hr chart you can see a nice divergence on the . These are two clues that make me more confident on any particular trade.
In addition price has created a with an kicker at the end of it. And pay attention also at the psychological round number that's sitting right there.
I was waiting to see the marke open and for my rules it gapped too much, therefore i'm waiting for an additional confirmation of the sell.
And there it is, another candle has closed right now.
I'm selling this; stops above highs, target1 at 1:1 RR, target2 for extended target.
If you have any question, feel free to ask below.
Otherwise, see you in the next chart!
Have a good week!
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM
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My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
More milk on the world market has driven down dairy prices, which slid 3.2 per cent at the Global Dairy Trade auction overnight.New Zealand's main export, whole milk powder (WMP), was down 3.7 per cent at US$3189 per metric tonne following a 1 per cent rise a fortnight ago.
GDT down NZD is effected. GDT down NZD down?