- Price showing consistent bearish market structure with lower highs and lower lows
- Recent equal lows followed by consolidation period indicate some bullish pressure beginning to step in
- Will be awaiting break of dynamic resistance followed by retest before taking long buy position
- Take profit set based on previous price action
Looking for a 1:5RR, 2%...
I'm expecting a long trade after the OB has been respected and price rejected the equilibrium of the OB. Furthermore, the Bearish Flag was a set up to capture and trap retail net sellers that have been stopped out. I'm expecting a bullish stop out the buyer side liquidity.
Here is my analysis for NZDUSD on the H4 time frame explaining why I think we could be in for a possible breakout to the upside and see price reach weekly highs again.
Thanks for taking the time to watch!
Drop a comment if you agree, disagree or a have any questions :)
We are travelling in a huge range here.
There will be loads of buy stops above the resistance, which will create a great area for manipulation to occur.
I want to see a spike above before the sell-off as illustrated.
Welcome traders to a free top down analysis breakdown.
Today I am highlighting possible trade ares on NZDUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free...
Here I explain why NZDUSD could be on its way down to retrace some of its recent moves to the upside to 0.71000 or even further at 0.70000. We are very extended on the higher timeframes and a retrace could be happening soon for this pair.
Leave a comment if you agree, disagree or have any questions