NZDUSD moving higher now
Updated
**Monthly Chart**
NZDUSD last month's candle closed as a bearish high test after sweeping liquidity above 0.62000 level (Round number). This month (July 2024 - Still active) tested the midway of the previous month's candle and pushed to May 2024 (bullish candle) Demand Zone. It is also April 2024 low.
**Weekly Chart**
Last week NZDUSD closed lower after an aggressive sell-off for the past two weeks. The candle closed as a bearish candle. This week I will look for a buy setup around the demand zone if there is a low-risk entry on lower time frames.
**Daily chart**
This week, I will wait for the price to take liquidity below the 0.58858 level before entering long. Wait for the price to tell you when on lower time frames (ie. 4H and 1H).
NZDUSD last month's candle closed as a bearish high test after sweeping liquidity above 0.62000 level (Round number). This month (July 2024 - Still active) tested the midway of the previous month's candle and pushed to May 2024 (bullish candle) Demand Zone. It is also April 2024 low.
**Weekly Chart**
Last week NZDUSD closed lower after an aggressive sell-off for the past two weeks. The candle closed as a bearish candle. This week I will look for a buy setup around the demand zone if there is a low-risk entry on lower time frames.
**Daily chart**
This week, I will wait for the price to take liquidity below the 0.58858 level before entering long. Wait for the price to tell you when on lower time frames (ie. 4H and 1H).
Comment
Update as of 4th August 2024:NZDUSD didn't break the low but it paused as it reached the demand zone and created an engulfing candle on daily chart. This has created a good buy setup on lower time frames. This week I will be again looking for additional buy setup for the price to continue going long. However, if the price didn't give buy setup and moves lower to break the high. The will look for buy setup withing the lower demand zone which will provide high probability trade setup.
Comment
This trade is moving nicely as expectedTrade active
NZDUSD moved exactly as we predicted and still the move to the upside.Trade closed: target reached
Target reached upto the pip
Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
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.