selfrighteousgambler
Short

NZDJPY MEDIUM-TERM SHORT SELL

FX:NZDJPY   New Zealand Dollar/Japanese Yen
This drop was amidst the RBNZ Interest rate revelation.
This shows that were a lot of unfilled sell orders in the market at that price range.
This is true because prices wouldn't have fallen so quickly if this wasn't the case.
Prices would trade sideways.
But they didn't, suggesting a seller biased inbalance.
The downside to this zone is the amount of activity preceding the zone.
But the reward of such a zone which no obvious demand below is high.

EP: ~88.300
SL: ~88.500
TP: ~86.700 (depending on the formation of new larger time demand zones.
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