EUR/NZD 1H - As you can see price has played out perfectly to the analysis I gave out on this weeks Sunday Sessions, I want to now see price trade us lower breaking the previous higher timeframes lows.
In order for us to get an entry, assuming the original entry was missed we need to wait for price to trail us back up and into the Supply Zone I have provided above.
Once we see price take us up and into this zone I am expecting price to reject well from this area in price and deliver us with a fractal break of structure to the downside. This is where we can start to look to go short in this market.
The break of structure round this zone will be the confirmation we need that the initial correction for this new bearish trend has finished and a new impulsive wave taking us lower in this market is about to begin, allowing us to capitalise from the turning point.
In order for us to get an entry, assuming the original entry was missed we need to wait for price to trail us back up and into the Supply Zone I have provided above.
Once we see price take us up and into this zone I am expecting price to reject well from this area in price and deliver us with a fractal break of structure to the downside. This is where we can start to look to go short in this market.
The break of structure round this zone will be the confirmation we need that the initial correction for this new bearish trend has finished and a new impulsive wave taking us lower in this market is about to begin, allowing us to capitalise from the turning point.