EURNZD Daily coming into demand/ support areas
Further to the NZDUSD Idea there is also a demand level with a fibonacci retracement cluster approaching
People seem to think that big red bars = strong selling, but if you were filling large orders in small pieces it simply means inefficient pricing and sometimes slippage/ poor execution...
I love buying after strong drops like this one into areas of tight consolidation which are basically areas where orders were filled efficiently within a tight price and are therefore stronger, It's not always 100% true, but buying off support is better than selling into it
So looking to buy the reward to risk is good as big bars usually have few (if any) major levels within them that could stop them being fully retraced and then some...
People seem to think that big red bars = strong selling, but if you were filling large orders in small pieces it simply means inefficient pricing and sometimes slippage/ poor execution...
I love buying after strong drops like this one into areas of tight consolidation which are basically areas where orders were filled efficiently within a tight price and are therefore stronger, It's not always 100% true, but buying off support is better than selling into it
So looking to buy the reward to risk is good as big bars usually have few (if any) major levels within them that could stop them being fully retraced and then some...