Here we have a 4HR chart setup. NZD/USD
Its been determined that the trend is still down
Weekly (Down)
Daily (Down)
I have placed key levels which are the red & green lines. Also placed quarter point level in between. (EX: even level @ 0.6800 QP level @ 0.6825). QP levels are the black lines.
It looks to be on a retrace to the upside, or can consolidate which I have drawn a "CB" Consolidation Box.
Just stay patient and wait to continue the trend. ALWAYS! GO WITH THE WITH IT.
So far its respected the trend line.
I placed an CCI indicator to help us with confirmation as well. Since its a down trend we wait till the indicator crosses below -100, that will ensure us that there is strong bearish push to the downside.
Happy Trading Traders,
JFX
Its been determined that the trend is still down
Weekly (Down)
Daily (Down)
I have placed key levels which are the red & green lines. Also placed quarter point level in between. (EX: even level @ 0.6800 QP level @ 0.6825). QP levels are the black lines.
It looks to be on a retrace to the upside, or can consolidate which I have drawn a "CB" Consolidation Box.
Just stay patient and wait to continue the trend. ALWAYS! GO WITH THE WITH IT.
So far its respected the trend line.
I placed an CCI indicator to help us with confirmation as well. Since its a down trend we wait till the indicator crosses below -100, that will ensure us that there is strong bearish push to the downside.
Happy Trading Traders,
JFX
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