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Looking at NZDUSD price action here next week

Looking at green zone for potential turning point for short.

At moment day – day momentum is up so a valid setup has to show price reaction to green zone/top trend line to signal that they are valid resistance.

NZDUSD daily chart July 2015 - present

NZDUSD daily chart July 2015 – present

Two prominent features in this chart:

  1. Bull trap
  2. Bearish expansion

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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