Last Week NZDUSD Broke though the H4 Trendline to the Downside. Price Action Also Crossed below the 20 EMA & Retested Before Falling Back Down. Looking To Entry Short Off 50% Fib .67960 & Possibly Enter a second position at 61.8% Fib .67750 With a Stop Loss at the 38.% Fib .68169. Downside targets at 78.6%Fib .67452 & .67072. Price Action at the current supply zone will determine where the entry will be. Either a break to the downside or short correction before heading back down.
#Supply&Demand #Trendlines #20EMA #MarketStructure #Fibonacci #H4 #NZDUSD
#Supply&Demand #Trendlines #20EMA #MarketStructure #Fibonacci #H4 #NZDUSD