NZDJPY (Review)
Well, this trade did not work out the way I thought it would. There were a couple of key things I overlooked while analyzing this chart:
*The weak highs that failed to on THREE OCCASIONS to break any lows.
*The successive higher highs on the chart despite being bearish order flow.
* The compression of price (visualized in an ascending triangle) which tends to mean bullish pressure
Well I think price is headed to downside in the medium-term as in the area left of OB's, and including highs where OB's were formed there are equal highs and a large candle where price is heading to mitigate. Once price reaches the 50% line is where it is predicted it will start the bearish descent.
*The weak highs that failed to on THREE OCCASIONS to break any lows.
*The successive higher highs on the chart despite being bearish order flow.
* The compression of price (visualized in an ascending triangle) which tends to mean bullish pressure
Well I think price is headed to downside in the medium-term as in the area left of OB's, and including highs where OB's were formed there are equal highs and a large candle where price is heading to mitigate. Once price reaches the 50% line is where it is predicted it will start the bearish descent.
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