NZDUSD POTENTIAL SHORT (4H TIMEFRAME)
NZDUSD POTENTIAL SHORT
OKAY SO I WAS WATCHING THIS PAIR AND ON THE 4H TIMEFRAME IT IS SHOWING ME A GOOD POSSIBLE SHORT OPPORTUNITY. IF YOU TAKE A LOOK AT THIS CHART YOU CAN SEE RECENTLY PRICE ACTION MADE A DOUBLE TOP; MEANING THAT PRICE FAILED TO BREAK NEW HIGHS AND ACTUALLY FELL TO THE DOWNSIDE AND BROKE RECENT STRUCTURE WITH STRONG SELLER MOMENTUM. THIS HAD DISPLAYED STRONG SELLER INTEREST AND AN OPPORTUNITY TO CAPITALIZE ON A POTENTIAL SHORT. LOOK FOR A CONTINUED WEAK BUYER PULLBACK INTO STRUCTURE. REASON WE WANT IT TO BE WEAK MOMENTUM IS BECAUSE THAT WILL BE A SIGN TO US THAT SELLER IS MORE DOMINANT AND JUST LETTING LAST BUYERS TO COME IN AND SELLER CAN TAKE EVEN LITTLE BETTER PRICE TO SHORT FROM (MORE PROFIT). WAIT FOR A PULLBACK INTO THE .66700 ZONE, WILL GIVE BETTER RISK/REWARD RATIO AS WELL AS MORE SOUND STRUCTURED SETUP FOR A POTENTIAL SHORT. IF PRICE ACTION COMES INTO .66700 LOOK FOR STRONG SELLER MOMENTUM TO CONTINUE BECAUSE THIS WILL SHOW THAT SELLER IS STILL INTERESTED. KEEP AN EYE OUT AND LETS SEE HOW THIS PLAYS OUT!
CHEERS!
OKAY SO I WAS WATCHING THIS PAIR AND ON THE 4H TIMEFRAME IT IS SHOWING ME A GOOD POSSIBLE SHORT OPPORTUNITY. IF YOU TAKE A LOOK AT THIS CHART YOU CAN SEE RECENTLY PRICE ACTION MADE A DOUBLE TOP; MEANING THAT PRICE FAILED TO BREAK NEW HIGHS AND ACTUALLY FELL TO THE DOWNSIDE AND BROKE RECENT STRUCTURE WITH STRONG SELLER MOMENTUM. THIS HAD DISPLAYED STRONG SELLER INTEREST AND AN OPPORTUNITY TO CAPITALIZE ON A POTENTIAL SHORT. LOOK FOR A CONTINUED WEAK BUYER PULLBACK INTO STRUCTURE. REASON WE WANT IT TO BE WEAK MOMENTUM IS BECAUSE THAT WILL BE A SIGN TO US THAT SELLER IS MORE DOMINANT AND JUST LETTING LAST BUYERS TO COME IN AND SELLER CAN TAKE EVEN LITTLE BETTER PRICE TO SHORT FROM (MORE PROFIT). WAIT FOR A PULLBACK INTO THE .66700 ZONE, WILL GIVE BETTER RISK/REWARD RATIO AS WELL AS MORE SOUND STRUCTURED SETUP FOR A POTENTIAL SHORT. IF PRICE ACTION COMES INTO .66700 LOOK FOR STRONG SELLER MOMENTUM TO CONTINUE BECAUSE THIS WILL SHOW THAT SELLER IS STILL INTERESTED. KEEP AN EYE OUT AND LETS SEE HOW THIS PLAYS OUT!
CHEERS!
Trade closed manually:
Too large of a buyer move to short trade. On to the next !
Trade closed manually:
PRICE CAME TOO HIGH ABOVE RISK LEVEL OF PREVIOUS HIGH. WAS LOOKING FOR SMALLER BUYER PULLBACK AND CONTINUATION OF SELLER INTEREST/POWER. NEVER GOT IT. ON TO THE NEXT.