EURNZD Daily - Market Conditions | Next Point of Entry 01/05/24
I'm expecting a pullback to the neckline of the 'active' local trading range top neckline.
If a range forms on top of this neckline it will be a super strong BUA in phase D of the 'active' local trading range. Ideally you would see a separate 'active' trading range which would be the BUA and ideally this would be a re-accumulation active trading range as opposed to an accumulation / pullback type scenario, this is simply because I believe a BUA re-accumulation trading range as I imagine it would be a stronger SOS.
If a range forms on top of this neckline it will be a super strong BUA in phase D of the 'active' local trading range. Ideally you would see a separate 'active' trading range which would be the BUA and ideally this would be a re-accumulation active trading range as opposed to an accumulation / pullback type scenario, this is simply because I believe a BUA re-accumulation trading range as I imagine it would be a stronger SOS.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.