This was possible trade that can be taken on 16 July 2021.
Pre Analysis:-
- Fundamental: NZD strong as CPI q/q result (1.3% / 0.7% / 0.8%). All NZD shows strong.
- Correlation: AUDNZD (1 / 4), correlation not decent.
- Market structure: a little bit room to go down as shown on daily chart. price also broke pervious day low.
- Pullback happen during London session, price digestion until near NY open.
Daily chart:-
H4 chart:-
H1 chart:-
M15 chart:-
M5 chart (entry point):-
Post Analysis:-
Closed Position Chart
