Evening Traders,
Today’s analysis – NZDUSD- trading at a key weekly trade location where a rejection is probable,
Points to consider,
- Price Action Impulsive
- .382 Fibonacci Support
(200 WMA Confluence)
- Double Top Resistance
- RSI Bullish Control Zone
- Declining Volume
NZDUSD’s immediate price action is impulsive above Weekly S/R, a correction is probable at a clear Double Top resistance.
The .382 Fibonacci is trading in its respective bullish control zone, remaining in these regions is indicative of strength in the market.
The volume profile is gradually decreasing; this is a sing of an influx being imminent when testing key trade locations.
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,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
Today’s analysis – NZDUSD- trading at a key weekly trade location where a rejection is probable,
Points to consider,
- Price Action Impulsive
- .382 Fibonacci Support
(200 WMA Confluence)
- Double Top Resistance
- RSI Bullish Control Zone
- Declining Volume
NZDUSD’s immediate price action is impulsive above Weekly S/R, a correction is probable at a clear Double Top resistance.
The .382 Fibonacci is trading in its respective bullish control zone, remaining in these regions is indicative of strength in the market.
The volume profile is gradually decreasing; this is a sing of an influx being imminent when testing key trade locations.
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,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
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Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.