GBP/NZD short opportunity

4 במאי 2020

Lat week 4/27, price shot down respecting the bearish structure and creating a Lower Low below the 2.0500 key price level. What I anticipated was a new lower high to be formed however, as we can see price came back up to create an Equal High rather than a lower high. Equal highs are targets, there is liquidity sitting on top of them which must be captured by the institutions. I am anticipating price to accumulate sellers at these equal highs only to spring up to the 2.07500 price level stopping them out of their trades. This is where I would look to sell and enter my short position on Gbp/Nzd. Well aware that anything can happen in these markets.