NZDUSD has plunged to October 2023 lows although overall structure clearly shows this pair is in a range.
If you compare the dollar index to the NZDUSD you see an inverse correlation, Dollar reached a significant resistance whereas NZDUSD reached a significant support. But that 's not say price cant pierce through these zones as seen recently on the EURUSD pair on Friday. Price broke through prior support of .5850 and heading towards levels 0.5800 - 0.5780. Could it take a bounce from there?
I look for LONG scalp opportunities at these levels (.5800 - 5780) based on any exhaustive candlestick pattern on the LTF (H4). But first I'll look for short entries to these levels for a 20-40pips as no clear signal for LONG presents itself at the moment and then change my bias to LONG aiming for .5850 & .5910 price levels on the bounce.
Sentiment data showing buyers/sellers sentiment reaching extremes for a reversal? Till then.
If you compare the dollar index to the NZDUSD you see an inverse correlation, Dollar reached a significant resistance whereas NZDUSD reached a significant support. But that 's not say price cant pierce through these zones as seen recently on the EURUSD pair on Friday. Price broke through prior support of .5850 and heading towards levels 0.5800 - 0.5780. Could it take a bounce from there?
I look for LONG scalp opportunities at these levels (.5800 - 5780) based on any exhaustive candlestick pattern on the LTF (H4). But first I'll look for short entries to these levels for a 20-40pips as no clear signal for LONG presents itself at the moment and then change my bias to LONG aiming for .5850 & .5910 price levels on the bounce.
Sentiment data showing buyers/sellers sentiment reaching extremes for a reversal? Till then.
交易進行
Played out Just nice.註釋
Did a LONG scalp for .5850 target. So we could be headed for .5910-.5920 target. Currently PA going according to plan. 交易結束：目標達成
Finally crawled to 0.5920. All targets met. 註釋
Potential H & S setup.註釋
This setup trade did not play out as expected. Next.註釋
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