NZD/USD: Bulls Reloading at Demand Zones
On the NZD/USD chart, price has reached a critical juncture near two strong demand zones (highlighted in purple).
These zones represent areas where institutional buyers could step in, given their historical significance.
The recent sell-off appears to have grabbed liquidity below local lows (red dotted lines), setting the stage for a potential bullish reversal.
If price reacts strongly within these zones, we could see a recovery targeting liquidity above the highs marked at 0.5865 and beyond.
The plan involves waiting for bullish confirmations such as higher highs or engulfing patterns to enter long positions, with stops placed below the lower demand zone for protection.
Initial targets focus on taking profits at key liquidity levels, while the overall bias remains bullish as long as the demand zones hold. Patience is key to trading this setup successfully.
These zones represent areas where institutional buyers could step in, given their historical significance.
The recent sell-off appears to have grabbed liquidity below local lows (red dotted lines), setting the stage for a potential bullish reversal.
If price reacts strongly within these zones, we could see a recovery targeting liquidity above the highs marked at 0.5865 and beyond.
The plan involves waiting for bullish confirmations such as higher highs or engulfing patterns to enter long positions, with stops placed below the lower demand zone for protection.
Initial targets focus on taking profits at key liquidity levels, while the overall bias remains bullish as long as the demand zones hold. Patience is key to trading this setup successfully.
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