The NZDUSD is trending down on the weekly timeframe, although the weekly high was broken, price did not did not clos above the weekly high which signifies a possible continuation of the weekly trend.
Dropping down to the daily timeframe which is where my main analysis is on. Price has created new lows breaking the previous low and ending the uptrend which could mean the beginning of a downtrend agreeing with the analysis on the weekly time frame.
I could go in for a swing sell trade and take my profit at the previous low OR to get a better RR I will wait for the price to pull back and give bearing information for me to enter the swing sell trade for a better RR.
Drop comments on your perception and Ideas on the trade!
Dropping down to the daily timeframe which is where my main analysis is on. Price has created new lows breaking the previous low and ending the uptrend which could mean the beginning of a downtrend agreeing with the analysis on the weekly time frame.
I could go in for a swing sell trade and take my profit at the previous low OR to get a better RR I will wait for the price to pull back and give bearing information for me to enter the swing sell trade for a better RR.
Drop comments on your perception and Ideas on the trade!