EURNZD 15m, structure n pattern to validate the short trade!
As i said here my short trade on eurnzd. We can clearly on m15 what happen so we can see a strong bearish phase then market need liquidity so start to consolidate, in consolidation peoples trade who long who short and market maker start to set their orders inside the consolidation then how to know if they will go long or short ?! we can look at the structure and see that when the price go up go a little bit sideaway this means there re no big buyers in that consolidation and probably /BECAUSE WE ALWAYS TALKING ABOUT PROBABILITY IN TRADING/ price will break down.
So this is how often market moves :
1 identify major trend
2 looking for consolidation and highlighted that with a well known pattern (in this case looks like triangle/wedge don t know but closed good the consolidation don t force to find the pattern cause will not work!)
3 looks for counter structure as shown in the pic when break at the retest you have your trade
4 looks always to area of supp. resistence here we was trading in a resistence area 1.71300
This is how i see and how i traduce the price action into logical movements, hope can help to have another perspective and why not compare to your analisys.
Follow me also in instagram COMMUNITYTRADERS2392 i post some analisys /results of my trading journey!
So this is how often market moves :
1 identify major trend
2 looking for consolidation and highlighted that with a well known pattern (in this case looks like triangle/wedge don t know but closed good the consolidation don t force to find the pattern cause will not work!)
3 looks for counter structure as shown in the pic when break at the retest you have your trade
4 looks always to area of supp. resistence here we was trading in a resistence area 1.71300
This is how i see and how i traduce the price action into logical movements, hope can help to have another perspective and why not compare to your analisys.
Follow me also in instagram COMMUNITYTRADERS2392 i post some analisys /results of my trading journey!
Comment:
For example look now at EURAUD you see somenthing similar?!