Hello Traders, here's how I'd be approaching NZDCHF for possibly shorting opportunities. Overall on this pair, we're down-trending on higher timeframes and we're really just scaling down to lower timeframes to look for entry reasons to the downside, at least until the HTF bullish bias is invalidated. We've been able to catch shorts with members of our community in previous times for a decent 10RR, and today I'd share with you our next entry zone that we;d be considering for more shorts.
The zone marked in yellow is a decent supply zone on the daily timeframe, one from which we can expect a distribution and continuation to the downside. It also tallied with the premium fibonacci level 61.8 which is also a very decent price level to consider shorts. This is just a trade schematics and we'd urge that you also do your research. However, we will stay reactive and will be eyeing this zone for possible trade entries.
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The zone marked in yellow is a decent supply zone on the daily timeframe, one from which we can expect a distribution and continuation to the downside. It also tallied with the premium fibonacci level 61.8 which is also a very decent price level to consider shorts. This is just a trade schematics and we'd urge that you also do your research. However, we will stay reactive and will be eyeing this zone for possible trade entries.
Give us a thumbs to support us make more updates as we see them on the charts.