WHAT DO I SEE ACCORDING TO PRICE ACTION ON NZDUSD?
so what do we see here?
according to price action we see a nice bullish preceding trend thats gets stucked in a daily resistance area, and shows me an indecision candle ( also called dodji ) on a 8hr chart. Also we can see recent lower high, which is usually a good signal for taking a short.
Taking this trade when price goes below the low of the indecision candle. going for a risk reward of 1:2.5 ( my minimun is 1:2)
hopefully it will work.
according to price action we see a nice bullish preceding trend thats gets stucked in a daily resistance area, and shows me an indecision candle ( also called dodji ) on a 8hr chart. Also we can see recent lower high, which is usually a good signal for taking a short.
Taking this trade when price goes below the low of the indecision candle. going for a risk reward of 1:2.5 ( my minimun is 1:2)
hopefully it will work.
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