Potential Trend Reversal

6 июл. 2021 г.

EURNZD has recently come down from a big impulse to the upside. Not only did this create a massive wick to the top but it also was retesting previous double and triple bottoms. These details confirm the zones and liquidity levels that price is bouncing off of. RIght now price is showing us higher highs and higher lows on the smaller time frames, 4hr and 1hr. A buy could be placed now and held through July or a pending order can be placed or patience could be practiced and entry would be looked for on a retest of neck line or higher low. Stop loss can be placed at each fib level if broken and take profit is set to middle of next zone. Even if it continues down before it goes up, the wick to the upside must be filled in, retested, this month or next, even next year. Lastly, the down trend line is being broken and retested. #MarketStructure