Don't sell the the low, wait for now

EURNZD is in downtrend no doubt about it. It broker thru the channel as we all can see so the traders are selling. While the banks could be taking the profits and preparing for the re-accumulation of the positions.
They will want to sell more in the levels where most trades will put stop loss. which will be around 1.6869.

Lets see if the market will retrace and give us the chance enter the short for the wave 5 with good risk reward.

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