NZDUSD Short
Direction: - This pair was at Source. This is an area where liquidity is trapped, so the market was expected to rise to this point then drop heavily.
- The M (Double Top) pattern formed in the H4 OB (Orderblock).
- Pair expected to reverse into Bearish Orderflow. Therefore, Bearish Momentum expected soon on the H4.
Entry: - H4 OB (Orderblock) indicates an area where liquidity is trapped. Markets are expected to grab this liquidity at source then drop.
- M (Double Top) Pattern Formation.
- 13 EMA Cross indicates continuation of drop in pair. This is my entry.
- RSI crossed volatility bands (Shark-fin), indicating pair will drop.
- RSI is above the 68 indicating the pair has been heavily overbought.
- MBL (Market Base Line) near the 68 pointing down, indicates that the pair is due to drop.
- Divergence indicates probable drop.
Exit: - 20 pip SL @ just above YH as this is a resistance point.
- 37 pip TP @ just above YL as this is a support point.
Direction: - This pair was at Source. This is an area where liquidity is trapped, so the market was expected to rise to this point then drop heavily.
- The M (Double Top) pattern formed in the H4 OB (Orderblock).
- Pair expected to reverse into Bearish Orderflow. Therefore, Bearish Momentum expected soon on the H4.
Entry: - H4 OB (Orderblock) indicates an area where liquidity is trapped. Markets are expected to grab this liquidity at source then drop.
- M (Double Top) Pattern Formation.
- 13 EMA Cross indicates continuation of drop in pair. This is my entry.
- RSI crossed volatility bands (Shark-fin), indicating pair will drop.
- RSI is above the 68 indicating the pair has been heavily overbought.
- MBL (Market Base Line) near the 68 pointing down, indicates that the pair is due to drop.
- Divergence indicates probable drop.
Exit: - 20 pip SL @ just above YH as this is a resistance point.
- 37 pip TP @ just above YL as this is a support point.