NZDUSD Daily Chart Art

First off, Thank you Babypips for making this category!

This is my look at NZDUSD Daily

Liquidity has been swept above the EQHs and may set up additional liquidity below the forming EQLs before a short term rally and then a sweep of liquidity sitting above an unmitigated demand zone. We’ll have to wait and see…

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Great piece of chart analysis.

Using this would you assume placing limit orders at these scales would be a viable trade:

Sell: 0.635
Scale in: 0.617
Scale in: 0.608

TP: 0.595
SL: 0.645

I wasn’t making a trade recommendation. Price can easily slip past a zone and continue following the path.

As I see the chart, the bullish power has significantly decreased, climaxes are formed lower, comparing to the previous ones and valleys are formed lower, bearish legs are taking more time and bullish ones are done shortly. I would wait for a bearish trigger to enter short honestly.

I think we are saying the same thing

Ohh, I get it now, I’m sorry for misunderstanding before, I thought you mean to open a buy rn and close it on the supply level :smiley:

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I don’t personally use limit orders in Forex because I prefer to rely on confirmation to enter a trade.

This is how your suggested trade looks using the Entry, TP and SL prices that you mentioned.

We have relatively equal lows formed so the next bullish move above these lows will bring in liquidity below the EQLs.

NZDUSD is right on target, but missed the crucial step of going to the entry first. Being at a demand zone. This may be consideration to go long.