Evening Traders,
Today’s analysis – NZDUSD – Trading below current Local S/R where a rejection is probable,
Points to consider,
- Price Action impulsive
- Local S/R Resistance
- .618 Fibonacci Resistance
- Oscillators Neutral
NZDUSD’s immediate price action is impulsive, trading below its Local S/R that has technical confluence with the .618 Fibonacci, allowing for a short bias.
The current Oscillators are trading neutral in their respective bearish control zones, remaining in these regions is indicative of weakness.
Volume Profile is currently below average, an influx is needed when a true expansion occur to help avoid false breaks.
Overall, in my opinion, NZDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
Today’s analysis – NZDUSD – Trading below current Local S/R where a rejection is probable,
Points to consider,
- Price Action impulsive
- Local S/R Resistance
- .618 Fibonacci Resistance
- Oscillators Neutral
NZDUSD’s immediate price action is impulsive, trading below its Local S/R that has technical confluence with the .618 Fibonacci, allowing for a short bias.
The current Oscillators are trading neutral in their respective bearish control zones, remaining in these regions is indicative of weakness.
Volume Profile is currently below average, an influx is needed when a true expansion occur to help avoid false breaks.
Overall, in my opinion, NZDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.