Evening Traders,
Today’s analysis – NZDUSD – trading from a key trade location where a bounce is plausible,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Harmonic B Leg to C Leg Confluence
- Price Action low objective
NZDUSD’s immediate price action is trading at a technical area that has confluence with the .618 Fibonacci and the Leg B, allowing for a bullish bias.
The Leg C is the immediate objective, reaching this level will confirm a potential harmonic
The overall objective is the range low, exceeding this region needs to hold for a continuation back up
Overall, in my opinion, NZDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’
Today’s analysis – NZDUSD – trading from a key trade location where a bounce is plausible,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Harmonic B Leg to C Leg Confluence
- Price Action low objective
NZDUSD’s immediate price action is trading at a technical area that has confluence with the .618 Fibonacci and the Leg B, allowing for a bullish bias.
The Leg C is the immediate objective, reaching this level will confirm a potential harmonic
The overall objective is the range low, exceeding this region needs to hold for a continuation back up
Overall, in my opinion, NZDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“It is always the best discretion to let the market show us where it is going and just simply follow (this would be prudent), rather than predict where the market is going and place a position (this would be gambling).” -Anne-Marie Baiynd’