NZDUSD bearish idea confirmations

17 באוק׳

As seen in the bigger picture, the pair has been predominantly bearish. My decision to go short was based on the break and retest of the green line I drew. After that, the price respected the fvg drawn multiple times and formed a small head and shoulders pattern, signaling a shift towards bearish momentum. There were also a few small fair value gaps on the 5-minute chart that needed to be filled, which the price has now done, and it’s heading downward. My prediction is that it will continue to drop to fill the daily fvg at the price level of 0.60300, after which it may either bounce back upward or continue its decline.

If you can see there was even a demand zone that it broke and then retested successfully.