POSSIBLE NZDUSD SELL + MULTIPLE TIME FRAME CONFLUENCE. 1W+1D
Updated
On the Weekly Time frame, the chart indicates a downtrend. Anticipation of a Bearish Indication could enable a long-term SELL opportunity.
A GREAT OPPORTUNITY DUE TO MULTIPLE TIME FRAME CONFLUENCE
• 1W - Current Market has reached the top of the weekly Trendline. (A considerably strong trend line which has been obeyed very nicely for quite a while now). The closed candle demonstrated suggests that a rejection has occurred when observing the length of the wick. This wick suggests a rejection of the linear level which can therefore be followed up by bearish movement.
• 1D - Current Market has also reached the top of the daily Trendline. The recent candle closure also demonstrates a rejection of the key linear level (Daily top TL).
Either instant entry or anticipate a Bearish Indication on 4HR timeframe.
A GREAT OPPORTUNITY DUE TO MULTIPLE TIME FRAME CONFLUENCE
• 1W - Current Market has reached the top of the weekly Trendline. (A considerably strong trend line which has been obeyed very nicely for quite a while now). The closed candle demonstrated suggests that a rejection has occurred when observing the length of the wick. This wick suggests a rejection of the linear level which can therefore be followed up by bearish movement.
• 1D - Current Market has also reached the top of the daily Trendline. The recent candle closure also demonstrates a rejection of the key linear level (Daily top TL).
Either instant entry or anticipate a Bearish Indication on 4HR timeframe.
Trade closed: target reached
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