JohnnyTranFx

NZD/USD Market Analysis (15 Minutes) 09-Jul

Short
JohnnyTranFx Updated   
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Current Market Structure:
M15 NZD/USD chart shows a clear bearish structure with a (BOS) at 0.6120. After the BOS occurred, the price recovered and is currently trading near an important supply zone.

Entry Points:
Short entry point would be at the supply zone between 0.6120 and 0.6130. This is the area where strong selling pressure has appeared before and is likely to continue to create resistance when the price returns.

Exit Points:
- Take Profit: The take profit point should be placed at the demand zone on the H1 chart, around 0.6080. This is an area where strong buying pressure has appeared before and may create support when the price drops.

- Stop Loss: The stop loss should be placed above the supply zone, around 0.6140. This is to protect against unexpected fluctuations and minimize risks.

Recommendations:

- Trading Recommendations: With the current market structure, the recommended trading strategy is to enter a short order in the supply zone (0.6120 - 0.6130), set a stop loss at 0.6140 and take profit at 0.6080.

- Note: Always adhere to the risk management principle, only trade with the volume appropriate to your account. Closely monitor price action to be able to adjust the strategy in time.

Wish you successful trading and always achieve stable profits!
Trade closed: target reached

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