NZDUSD has been on a trading range for 2 years, which means the prince can stay bouncing off the bottom of the channel for a while before going up.
In a second case, there was a strong bearish movement since the price bounced off the top of the channel. Does it mean strength enough to break the trading range? However, the price is losing force, showing some indecision in the last 1-week candle — which is expected since this is a support level. I'll wait for a strong bearish candle breaks this level to open a short position.
In a second case, there was a strong bearish movement since the price bounced off the top of the channel. Does it mean strength enough to break the trading range? However, the price is losing force, showing some indecision in the last 1-week candle — which is expected since this is a support level. I'll wait for a strong bearish candle breaks this level to open a short position.