Hello traders it's been a while since I posted but I saw this opportunity and wanted to share this with you! Whenever I talk about the market I am always talking about a few things that are vital to my trading. Those things would be the market structure, fractals and price action. So that leads me to the current chart! I make all of my decisions based off of the daily structure so with this NZD vs CAD opportunity you can see that price is bouncing and rejecting the lower level of the fractal
zone. We can see a nice rejection setup as the current daily candle will close as a Rejection Bar or Pin Bar
as many are taught. Whenever I see a rejection at one of my zones I am looking to enter the market. Here price was in a rally and the overall market is currently bullish
but we had a nice correction back into our zone and now it appears as if buyers are attempting to come into the market. Bear
were in control but buying pressure has forced the market up off of the bottom of the zone. I am looking to trade a break or close above the Rejection high with my SL below the Rejection low. If you take this opportunity good luck too you and God bless!
- Look At The Financial World With A New Glance