Here we have a 4HR chart setup. NZD/USD
Its been determined that the trend is still down
Weekly (Down)
Daily (Down)
I have placed key levels which are the red & green lines. Also placed quarter point level in between. (EX: even level @ 0.6800 QP level @ 0.6825). QP levels are the black lines.
It looks to be on a retrace to the upside, or can consolidate which I have drawn a "CB" Consolidation Box.
Just stay patient and wait to continue the trend. ALWAYS! GO WITH THE WITH IT.
So far its respected the trend line.
I placed an CCI indicator to help us with confirmation as well. Since its a down trend we wait till the indicator crosses below -100, that will ensure us that there is strong bearish push to the downside.
Happy Trading Traders,
JFX
Its been determined that the trend is still down
Weekly (Down)
Daily (Down)
I have placed key levels which are the red & green lines. Also placed quarter point level in between. (EX: even level @ 0.6800 QP level @ 0.6825). QP levels are the black lines.
It looks to be on a retrace to the upside, or can consolidate which I have drawn a "CB" Consolidation Box.
Just stay patient and wait to continue the trend. ALWAYS! GO WITH THE WITH IT.
So far its respected the trend line.
I placed an CCI indicator to help us with confirmation as well. Since its a down trend we wait till the indicator crosses below -100, that will ensure us that there is strong bearish push to the downside.
Happy Trading Traders,
JFX
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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.
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.