We are in supply and bellow top of channel.(UPDATE)

Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.

Reason: NZD is No.1 Risk currency with coming recession it will be weak against the safe haven currencies USD and JPY.

COT: BIg whales has Twice smaller longs than shorts

UPDATE: Price drooped 60 pips now we need break thru the middle band of the channel for the downtrend continuation.

Initial analysis

FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players ( COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.