NZD/USD 4H Timeframe Analysis
NZD/USD 4H Timeframe Analysis
Trend Analysis:
The NZD/USD pair is currently in a downtrend, having broken below the major key support level at 0.57800. Sellers pushed the price further down, reaching the next minor key support level.
Following this move, a doji candlestick formation appeared, signaling indecision in the market. This was followed by a bullish engulfing candle, which suggests a potential reversal. However, due to the strong bearish pressure, the price is now consolidating between the two minor key levels.
Price Action Expectation:
The strategy focuses on identifying a liquidity grab below the minor key support level before continuing with the downtrend.
Wait for the price to break below the minor key support and accumulate seller orders below the key area.
Anticipate a manipulation stage where the price moves up temporarily to hunt stop-loss orders placed by sellers in the liquidity zone.
Wait for the price to resume the downtrend with another breakdown below the minor key support level.
Trade Setup:
Place a sell stop order at 0.56130 to confirm entry upon the second breakdown.
Stop Loss: Set at 0.56560, above the liquidity zone for risk management.
Take Profit: Target 0.54690, yielding a favorable 1:3 risk-to-reward ratio.
Key Levels to Monitor:
Major Support: 0.57800
Minor Support: 0.56130
Target Support: 0.54690
Additional Considerations:
Look for a clear rejection or bearish candlestick pattern after the liquidity grab.
Monitor volume levels during the breakdown to confirm selling pressure.
Stay cautious of fakeouts and ensure proper risk management.
Conclusion:
NZD/USD remains bearish as it consolidates within the minor key levels. A confirmed breakdown below 0.56130, following a liquidity grab, would signal the continuation of the downtrend. Targeting 0.54690 provides a compelling 1:3 risk-to-reward ratio, making this a high-probability setup.
Trend Analysis:
The NZD/USD pair is currently in a downtrend, having broken below the major key support level at 0.57800. Sellers pushed the price further down, reaching the next minor key support level.
Following this move, a doji candlestick formation appeared, signaling indecision in the market. This was followed by a bullish engulfing candle, which suggests a potential reversal. However, due to the strong bearish pressure, the price is now consolidating between the two minor key levels.
Price Action Expectation:
The strategy focuses on identifying a liquidity grab below the minor key support level before continuing with the downtrend.
Wait for the price to break below the minor key support and accumulate seller orders below the key area.
Anticipate a manipulation stage where the price moves up temporarily to hunt stop-loss orders placed by sellers in the liquidity zone.
Wait for the price to resume the downtrend with another breakdown below the minor key support level.
Trade Setup:
Place a sell stop order at 0.56130 to confirm entry upon the second breakdown.
Stop Loss: Set at 0.56560, above the liquidity zone for risk management.
Take Profit: Target 0.54690, yielding a favorable 1:3 risk-to-reward ratio.
Key Levels to Monitor:
Major Support: 0.57800
Minor Support: 0.56130
Target Support: 0.54690
Additional Considerations:
Look for a clear rejection or bearish candlestick pattern after the liquidity grab.
Monitor volume levels during the breakdown to confirm selling pressure.
Stay cautious of fakeouts and ensure proper risk management.
Conclusion:
NZD/USD remains bearish as it consolidates within the minor key levels. A confirmed breakdown below 0.56130, following a liquidity grab, would signal the continuation of the downtrend. Targeting 0.54690 provides a compelling 1:3 risk-to-reward ratio, making this a high-probability setup.
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