I would assume the majority of retail is fighting this trend in hopes that they will catch a big reversal and for that reason, I will continue to buy the dips with the market makers.
I would like to see a significant pullback as illustrated before I look to stack up the buy positions.
I am not satisfied with the downtrend, I feel like price is running out of steam near the lower trend line of this ascending channel. I would like to see price push up to test the previous highs before we see a strong bearish continuation.
73% of retail is selling, which makes it appealing to buy for me.
We dont release many of our setups here because we are busy with our community
Price at support which lines up with the 30% fib reversal
RSI is low and the take profit is at the next resistance.
Price lines up with a trendline resistance which can easily break.
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.
Price is traveling within an ascending channel, I would only be looking for buys from here because selling from here is very limited and we have areas where price can reverse such as the trendline and order block.
Let's extend this 'bear flag' for as long as we can hahahah.
COT Data - 54% Short
For the moment it is crucial to stay patient to see how the dollar, as well as the NZD, will react to the market open. I have illustrated the next potential move for NZDUSD, for the moment price looks like it's stuck and consolidating, if the price breaks out of the trend line and starts to trade below the key level marked, I will consider changing my bias to...