Analysis of NZD/USD Momentum and Potential Correction
In recent market activity, NZD/USD has undergone a notable momentum surge. However, a correction appears warranted to facilitate a subsequent upward market surge. The observed formation of a lower high structure and the current positioning within a robust supply zone emphasize the likelihood of an impending corrective phase.
Trade Advisory:
Given the counter-trend nature of this trade, it is imperative to exercise caution and implement prudent risk management strategies. Overextending positions is discouraged, and a keen focus on risk mitigation is strongly advised.
Trade Plan:
Entry Point: 0.6155
Stop Loss (SL): 0.619
Take Profit (TP): 0.609
The identified lower high structure suggests a temporary deviation from the prevailing momentum, potentially signaling a retracement before resuming the upward trajectory. As the pair is currently situated in a formidable supply zone, anticipating a correction aligns with a strategic approach to market dynamics.
Market participants are reminded to manage their risk judiciously, considering the counter-trend nature of the trade. It's crucial not to overstay in the market, emphasizing the need for disciplined and well-calibrated trading decisions.
Trade Advisory:
Given the counter-trend nature of this trade, it is imperative to exercise caution and implement prudent risk management strategies. Overextending positions is discouraged, and a keen focus on risk mitigation is strongly advised.
Trade Plan:
Entry Point: 0.6155
Stop Loss (SL): 0.619
Take Profit (TP): 0.609
The identified lower high structure suggests a temporary deviation from the prevailing momentum, potentially signaling a retracement before resuming the upward trajectory. As the pair is currently situated in a formidable supply zone, anticipating a correction aligns with a strategic approach to market dynamics.
Market participants are reminded to manage their risk judiciously, considering the counter-trend nature of the trade. It's crucial not to overstay in the market, emphasizing the need for disciplined and well-calibrated trading decisions.
Comment:
Trade closed manually. no longer valid
Trade active:
Trade active again with market price
Trade closed: stop reached