The Kiwi has been pushing lower pretty easily since our initial kumo breakout.
We are in the middle of a bearish engulfing candle and approaching previous price structure support.
If we can break that support then it will confirm our short bias.
I've drawn out a couple targets I'll be aiming for.
I don't always make this clear, but I wanted to make sure everyone following my analysis knows that I leave some of my position running even past my targets until I see my confirmations change.
This is one simple tip you can use to give yourself a slight edge over time if you're a trend trader.
If we fail to break and hold below support at the entry I've drawn, then this setup may become invalidated.
We are in the middle of a bearish engulfing candle and approaching previous price structure support.
If we can break that support then it will confirm our short bias.
I've drawn out a couple targets I'll be aiming for.
I don't always make this clear, but I wanted to make sure everyone following my analysis knows that I leave some of my position running even past my targets until I see my confirmations change.
This is one simple tip you can use to give yourself a slight edge over time if you're a trend trader.
If we fail to break and hold below support at the entry I've drawn, then this setup may become invalidated.