EURNZD LONG (DOUBLE BOTTOM)
Price reaches a demand zone, buyers who missed out the last time have their order placed, preparing to buy again. The second touch of the demand zone usually is the strongest zone.
Price rally after entering Demand, Hit nearby supply, sellers sold down.
Now both Supply and Demand are both weak with 2 touches. The higher probability will be the buyers as market structure lines well with Demand zone.
MARKET STRUCTURE + DEMAND > SUPPLY only
IF price can stay above 1.720, I will be a buyer. IF price showed a break downwards, the double bottom will be invalid.
*Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
Price rally after entering Demand, Hit nearby supply, sellers sold down.
Now both Supply and Demand are both weak with 2 touches. The higher probability will be the buyers as market structure lines well with Demand zone.
MARKET STRUCTURE + DEMAND > SUPPLY only
IF price can stay above 1.720, I will be a buyer. IF price showed a break downwards, the double bottom will be invalid.
*Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
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