NZDUSD - Break of daily TL --> Sell after Retest

11 Nis 2022

Hi Traders!

Weekly:

• Weekly TF we see a descending Broadening Wedge
  
• Lastly price touched the upper TL --> Pullback expected
  
• Target Area not too far away --> Weekly Bullish Flag possible
  
  H4:
  
• Market was in an Up-Trend
  
• Made a Double-Top
  
• Then higher High
  
• Then Down-Movement
  
• Then Lower Low
  
• For Trend Change we need: Lower High
  
• The Down-movement also broke ascending daily TL & daily Support
  
• We can find the Lower High when price retests daily TL & daily Resistance
  
• Successful Retest --> Sell Entry Trigger
  
  Analysis:
  
• Down-movement until Target Area expected
  

If you would like to know anything with more details or if you have another point of view, don't hesitate to share!


Thanks and successful Trading :-)!

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***Not every trade is also taken by us***