I've been watching NZD for the past few weeks with the premium members and we've recently seen some activity that we could take advantage of. I've got some of the details here for you.
Price has been rejecting a weekly resistance level which also has daily supply around the level.
We continued to monitor price and saw on the daily that price was likely to move lower from these turning points.
The H4 confirmed this with a reversal pattern
And the 30m also aligned for a short.
Next we waited for this to happen.
NU was also at a significant level on both the daily and weekly charts so a reversal was likely.
As usual, I like confirmation so we were stalking a setup using multiple time frame analysis:
Price moved as anticipated and so we had another nice short trade.
I hope you found this useful.
Any questions, just ask.