NZDUSD Analysis Dec 19, 2021
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe, we can see that price has broken below a key level of resistance and retested it with rejection. The level specified is 0.69000. The next level we are anticipating price to get to is 0.66000.
On the H4 timeframe we can see that price is in a clear downtrend. We are currently retesting the level of support at 0.67400. As we teach inside the course you should not enter at a low. Wait for a break and retest or a pullback to form another structure point before continuing with the downtrend on this one into the lower key level of support.
On the weekly timeframe, we can see that price has broken below a key level of resistance and retested it with rejection. The level specified is 0.69000. The next level we are anticipating price to get to is 0.66000.
On the H4 timeframe we can see that price is in a clear downtrend. We are currently retesting the level of support at 0.67400. As we teach inside the course you should not enter at a low. Wait for a break and retest or a pullback to form another structure point before continuing with the downtrend on this one into the lower key level of support.
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