Top and Bottom + Trade Idea on NZDUSD by ThinkingAntsOk
Use this as a guide to identify major technical zones on the chart, or to support or discard a possible trade idea you may have
Main Items we see on the 4hs chart:
a)Price is against a major reversal zone formed by a trendline + support area
b)Currently there is a corrective structure close to the descending trenldine of the bearish channel
c)If price breaks out the descending channel, we will wait for a corrective structure to be formed
d)If that scenario happens we will trade the breakout with a take profit on the end of the green arrow
e)You can set you stop below the Correctie Structure
Daily Vision:
Weekly Vision:
Main Items we see on the 4hs chart:
a)Price is against a major reversal zone formed by a trendline + support area
b)Currently there is a corrective structure close to the descending trenldine of the bearish channel
c)If price breaks out the descending channel, we will wait for a corrective structure to be formed
d)If that scenario happens we will trade the breakout with a take profit on the end of the green arrow
e)You can set you stop below the Correctie Structure
Daily Vision:
Weekly Vision: