Supply and Demand: GBP/NZD Short
---Neutral/Short---
---Short-term Bearish Bias ---
-Price starting to make a correction move on a lower time frame, making a ranging movement.
-Price just reacted twice on the daily demand zone. Creating a higher low on the second enter.
Possible Scenarios:
1. Price reacting to the nearest supply zone. Making it retest the daily demand zone.
2. Pushing through the 2nd supply zone then possible pullback from the break of the 1st supply, then continue moving higher.
So far, entering short on two supply plotted with a lower RR.
Once the bullish biased is confirmed. We start to enter the bullish trend.
---Short-term Bearish Bias ---
-Price starting to make a correction move on a lower time frame, making a ranging movement.
-Price just reacted twice on the daily demand zone. Creating a higher low on the second enter.
Possible Scenarios:
1. Price reacting to the nearest supply zone. Making it retest the daily demand zone.
2. Pushing through the 2nd supply zone then possible pullback from the break of the 1st supply, then continue moving higher.
So far, entering short on two supply plotted with a lower RR.
Once the bullish biased is confirmed. We start to enter the bullish trend.
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