EUR/NZD shows a Secondary DecisionBar
Following a DecisionBar Long Exhaustion, EUR/NZD moved up to the area of the previously broken lower pivot (indicated by the hand-drawn, dashed orange line), which is now providing resistance.
EUR/NZD was unable to overcome that resistance, causing DecisionBar to issue a short, Secondary DecisionBar.
Our trading strategy is now straight forward. We should be short as long as the market stays below the level of the previously broken lower pivot, and long if the market moves above it.
EUR/NZD was unable to overcome that resistance, causing DecisionBar to issue a short, Secondary DecisionBar.
Our trading strategy is now straight forward. We should be short as long as the market stays below the level of the previously broken lower pivot, and long if the market moves above it.