NZDUSD is moving downwards. After breaking through the latest minimum, price does pullback to previous low. 50% pullback makes the signal more valid.
While pullback, price has formed inside bar, which means uncertainty and price compression on the lower timeframe.
Sell order will be activated at breakout of the pattern.
Primary R/R - 2/1
Last post: June 22nd. See chart.
Review: Price was suggesting indecision and a possible pullback in the bull trend back to retest resistance-turned-support.
Update: Price did indeed pullback and is today suggesting a possible I B setup.
Conclusion: We will wait for the daily closing price and then let our community know if a pullback setup is appropriate or ...
Validated confluences
1.Inside Bar formed in Strong support zone
2.No fresh strong resistance until 17200
3.Price action hit support zone
4.Minor obstruction above 16600
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
