What are your thoughts on the NZD/USD 1H chart?
as you can see the price is currently consolidating within the white boxes. I am geussing that if the price breaks below the resistance (green box) it could continue all the way down to the purple trendline, bounce back and maybe find resistance at the level of the green box. after that we will look if the price continues upwards or if the resistance is strong enough we will look for shorting positions.
If the price breaks above the consolidating zone I will be looking for potential Long entries.
What are your ideas on this setup? do you have any improvents? the reason I am dropping this post is to maybe help others but also help myself to becoming a better forex trader.
Feel free to leave comments/ideas
Happy trading!
as you can see the price is currently consolidating within the white boxes. I am geussing that if the price breaks below the resistance (green box) it could continue all the way down to the purple trendline, bounce back and maybe find resistance at the level of the green box. after that we will look if the price continues upwards or if the resistance is strong enough we will look for shorting positions.
If the price breaks above the consolidating zone I will be looking for potential Long entries.
What are your ideas on this setup? do you have any improvents? the reason I am dropping this post is to maybe help others but also help myself to becoming a better forex trader.
Feel free to leave comments/ideas
Happy trading!