OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
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13
So guys, we had a huge uptrend in NZDUSD , currently the pair is on a raging channel ( marked with green and yellow lines ), with a slight downtrend marked with green line aswell.
It might retest the support ( yellow line ) and go all the way back up to re-test the resistance of the raging channel ( green line ), or even break the resistance line.
I've chosen the lowest re-test ( marked with red line ) as my STOP LOSS.
I'll watch this pair closely and wait for it to re-test the support and starts its way up, and then ill place my LONG position.

Do you agree ?

Comments

I agree what your seeing here, however the higher time frames we are still bearish and could easily make a new L/L. Might look at this myself could be a good trade
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TRADESBYZION DarrylK87
@DarrylK87, definitely mate ! That’s why I will wait a little bit to see how it goes before I enter this one 🤕
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