NZDUSD potential sell setup
on DAILY: NZDUSD is approaching a resistance brown trendline so we will be looking for objective sell setups on lower timeframes.
on H1: NZDUSD formed a double top pattern so we are waiting for a momentum candle close below its neckline to sell.
*Conservative traders have to wait for a third swing to form around our red trendline to consider it valid and then enter on its break downward.
Meanwhile, until an objective sell setup is activated, NZDUSD would be overall bullish and can still test the upper green resistance from DAILY to get more liquidity to be able to push price lower.
on H1: NZDUSD formed a double top pattern so we are waiting for a momentum candle close below its neckline to sell.
*Conservative traders have to wait for a third swing to form around our red trendline to consider it valid and then enter on its break downward.
Meanwhile, until an objective sell setup is activated, NZDUSD would be overall bullish and can still test the upper green resistance from DAILY to get more liquidity to be able to push price lower.