Last Week I had a buy opened and closed in profit right before news. I also sold that big drop after the interest rate decision with a 10 pip trailing stop grabbing myself around 60 pips in just 2 seconds. Nzd/Usd then moved back up after the big drop and where did it stop? If you look at the yellow trend line, you can see that this area is a area of support! Look Left and you can see the Yellow Box Area where Its Highlighted!
Details on the chart! We got the drop , retest of broken support on hour 4 , and now I have entered a sell to catch the break down of the retest! Price will move up and touch that trend line on hour 1 after the breakout and then will fall again! So we should be in a hour 1 retracement! If you want to catch the perfect entry, go to hour 1... draw the trendline... wait for price to move up and touch the trendline and then catch the breakdown afterwards! You can also just enter a sell and wait for price to drop again!
After price reaches the next support area, you can expect to go long because it is a strong area of support as that big red candle was rejected at this level!
Details on the chart! We got the drop , retest of broken support on hour 4 , and now I have entered a sell to catch the break down of the retest! Price will move up and touch that trend line on hour 1 after the breakout and then will fall again! So we should be in a hour 1 retracement! If you want to catch the perfect entry, go to hour 1... draw the trendline... wait for price to move up and touch the trendline and then catch the breakdown afterwards! You can also just enter a sell and wait for price to drop again!
After price reaches the next support area, you can expect to go long because it is a strong area of support as that big red candle was rejected at this level!
