In this chart I would like to show that one indicator only is not enough to make a decision on what a pair is about to do. However, if you see the red line, and the break below 0 of the BBP_NM indicator, you see that you would have made a nice profit if you would have taken that short. Same thing for the blue line, nice profit to the long side which currently is still valid.
Now we have reached a resistance level
and the question is whether it will hold or not, that is to be seen. A break and close below the trendline
could mean a retracement to the downside. A break above the resistance zone
would mean there is more to the upside.
Whatever the market is going to do, feel free to use the new and improved BBP_NM_V02 indicator to help you making your decisions :) The link to the script is posted below.
May the pips be with you !