NZDUSD
Recently 50% fibo zone is acting as the resistance zones, however in a 4 Hr time frame we see a strong bullish engulfing candle , which is a sign of buyers presence , However the trend is downwards so sellers might pitch in any moment , To place a counter trend trade , you have to wait and see if price crosses 50% Fibo level and then gives a prompt pull back
Recently 50% fibo zone is acting as the resistance zones, however in a 4 Hr time frame we see a strong bullish engulfing candle , which is a sign of buyers presence , However the trend is downwards so sellers might pitch in any moment , To place a counter trend trade , you have to wait and see if price crosses 50% Fibo level and then gives a prompt pull back