💡 - Trade Idea
In the Asia Session, an accumulation schematic began to form, breaking structure this morning, looking for a retracement back to the 5m candle that initiated this bullish momentum, before pushing to 1912 where I see the market rejecting back to the downside to carry on the bearish momentum on the larger timeframe.
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Predicting to go long as a possible Wyckoff patterns is forming off the back of breaking a bearish trend. I think a lot of indicators are pointing towards it becoming a bullish trend. The future timings of the spring and test are only eye balled so this may take longer to form.
REMEMBER THIS TRADE!
We´ve a nice Wyckoffpattern in the 1h.
Entry based on an institutional Candle in the 1h.
VOLUME is present shows downside support.
DON`T FORGET Breakeven after some Pips to protect SL
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This analysis was mainly based on the Wyckoff Theory and price actions, i've notced over the few weeks that the market has taken out alot of buy orders in need to make the next trend. Question is what will happen next ?
NZDUSD is finishing the Accumulation Phase and slowly moving towards Distribution , we should first see Re-Accumulation and a Correction in the uptrend before starting Distribution.
Trading with the Smart Money - Wyckoff Method.