JUST AN ALERT ON NZD/USD TO RETRACE AND THEN GO LOWER
WE BROKE THE STRUCTURE TO THE DOWNSIDE, MARKET HAS REACHED AN OVERSOLD CONDITIONS AND LOOKS LIKE IT IS GOING TO RETRACE BEFORE CONTINUING TO GO LOWER.
I AM GOING TO WAIT FOR THE PRICE TO GO ABOVE THE 38.2 RETRACEMENT UP TO THE 50% RETRACEMENT WHERE WE CAN SEE A GREAT STRUCTURE RESISTANCE IN THE AREAS OF 0.72900 TO 0.73000.
IT IS JUST AN IDEA OF WHAT THE MARKET COULD POTENTIALLY DO, WILL BE WATCHING THIS CLOSELY AND IF IT GOES AS EXPECTED I WILL DECIDE WHERE TO PUT MY SELL LIMIT ORDER
I AM GOING TO WAIT FOR THE PRICE TO GO ABOVE THE 38.2 RETRACEMENT UP TO THE 50% RETRACEMENT WHERE WE CAN SEE A GREAT STRUCTURE RESISTANCE IN THE AREAS OF 0.72900 TO 0.73000.
IT IS JUST AN IDEA OF WHAT THE MARKET COULD POTENTIALLY DO, WILL BE WATCHING THIS CLOSELY AND IF IT GOES AS EXPECTED I WILL DECIDE WHERE TO PUT MY SELL LIMIT ORDER