NZDUSD: Bearish Signals in Bullish Market
From my point of view, NZDUSD is a market for shorting. The daily chart gives us a double top chart pattern at the resistance zone. This pattern belongs to a reversal group of patterns. We have a bearish divergence, which is a trend reversal signal as well.
The price is going to bounce from the resistance zone. If it breaks the uptrend line, it will be another bearish signal confirming the further downward movement. It will be possible to search for the exact entry points using the hourly and minutes time frames.
Is it possible that the price breaks the resistance and continues the uptrend? Sure, the buyers can push the price up, and it will change the market structure again. It will need a new trading plan.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price is going to bounce from the resistance zone. If it breaks the uptrend line, it will be another bearish signal confirming the further downward movement. It will be possible to search for the exact entry points using the hourly and minutes time frames.
Is it possible that the price breaks the resistance and continues the uptrend? Sure, the buyers can push the price up, and it will change the market structure again. It will need a new trading plan.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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