Trendline Break and Retest Rejection Play
FOLLOW FOR DETAILED TRADE PLANS OF MAJOR FOREX PAIRS
Bias - Short
Type - Trendline break and retest rejection
Evidence -
(1) Clear LH connecting a bearish trendline
(2) A repeatedly touched daily bullish trendline, where price will likely move to again.
Method -
Wait for a break of the minor bullish trendline (green dotted line), and entering a retest close to the trendline forming a new LH where you stop will be just above.
NZDUSD
Bias - Short
Type - Trendline break and retest rejection
Evidence -
(1) Clear LH connecting a bearish trendline
(2) A repeatedly touched daily bullish trendline, where price will likely move to again.
Method -
Wait for a break of the minor bullish trendline (green dotted line), and entering a retest close to the trendline forming a new LH where you stop will be just above.
NZDUSD