All SHORT for the NZDUSD
Updated
This pair is experiencing Bearishness on major timeframes. On the Weekly, Daily, 4 Hour, as well as on the 1 hour timeframes, the trends are all Bearish.
On the 1 hour timeframe, we have seen price, on the Bearish swing, come into our zone and adn from there progress towards our liquidity target.
The 1 hour price swing isare expected to complete soon, with prices hitting the liquidity target as shown on the chart.
At that point, a reversal would be expected, following which we will expect lower prices to drive us towards the liquidity targets of the larger timeframes
On the 1 hour timeframe, we have seen price, on the Bearish swing, come into our zone and adn from there progress towards our liquidity target.
The 1 hour price swing isare expected to complete soon, with prices hitting the liquidity target as shown on the chart.
At that point, a reversal would be expected, following which we will expect lower prices to drive us towards the liquidity targets of the larger timeframes
Trade closed: target reached
From our earlier analysis of yesterday, we saw prices soar to hit our liquidity target on the 1 hour chart.
At the conclusion of that, it was all set and clear to setup for the next trading swing.
The next trade was to be Bearish too; with clear zones marked out
Trade closed: stop reached
We set our trade plan to take the next Bearish swing to target the 1 hour liquidity target around 0.58080.
Price came into our zone, from which we had anticipated a Bearish Reversal. For about 5 hours, the market showed signs of giving us the expected bearish reversal. But finally the Bulls came in strongly and were able to swing prices strongly enough to the upside to invalidate our entire Bearish setup of the 1 hour chart.
That move caused the market to hit our Stop Loss level and thus invalidated our entire setup.
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