NZDUSD IDEA

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On the 1H timeframe there is a short term buy opportunity as we retest the previous Higher Lows to create a W formation.

The circled Green candle is the one does not fit with the previous trend that is why this makes me think this will be a resistance level.


* On the 4H we see clear divergence forming on the RSI.


* The overall trend is Down that is why we will wait for this retest of previous Suppoort now being Resistance to get retested and rejected before entering a Sell.


* Although, nothing can stop us from taking this Buy and making a 2R

Tell me your thoughts!