After a pretty significant uptrend by the NZDUSD, it looks like a nice 2 month long H&S pattern has formed finding the support line at 0.718 which has has been tested 5-6 times. Price has broken that H&S support line then retraced back above the support line only to find aggressive selling and rejected that move up which can be seen by 2 aggressive candlestick...
After AUD/USD price broke out of its 13 day range/consolidation phase resistance level, the price reached a MAJOR SUPPLY ZONE. AUD/USD price neared a resistance level that hasn't been broken for 1 year. This indicates a level of MAJOR SUPPLY and at a price level were there is VERY LITTLE DEMAND. For this reason, I shorted the AUD/USD.
