Jordan analyzes NZD/USD for intraday short trades. He identifies a bearish hidden divergence in Leg 4 of the pattern and two key entry zones, with invalidation if price breaks above 0.71.
Hello everyone and welcome to another technical analysis video. My name is Jordan and I'm part of the Traders Academy Club. Today we're going to talk about Kiwi dollar and the potential sell opportunities that we might be looking at at the moment. So first of all, let's jump to the higher time frames where we see a bullish structure and the expectation is currently to see deeper pullbacks. As we can see, 2 waves already completed here on daily chart without any signs that this actual pullback, the whole idea of the pullback, is finished. Uh, in other words, what I'm trying to say is we might be looking at something like this, but this is the longer term, right? If we want to be trading this intraday, we should jump down to the lower time frames and Basically, this is our first leg, this is the second one. We want to see this structure right here being completed. So what do we do? We try to identify, um, the structure that is being developed at the moment, namely this one from here on. And if that's the case, I do believe, at least the way I read it at the moment, is that we're inside Leg number 4 here, we do have bearish hidden divergence. There is delta pattern as well, and basically the idea is that we're going to see a new low. Now in terms of entries, there are countless ways— just one second, let me find— where is that? There are countless ways of how you can actually enter the market once you have the direction in which you should be trading. But the very first thing I will be looking at is the levels. And in terms of levels, this is what we see, okay? These 2 zones— this is the first one, this is the second one. Of course, we might have something in between, but those 2 are the critical levels that I will be paying attention to. As we can see, the first one is being reached at the moment. That along with the divergences offers, in my opinion, a good interesting setup here. In terms of invalidations, I would be using the trend line and the second level I have in mind, which means if the price manages to go ahead and break above this zone, which is approximately the 71, as we can see, um, That would be the end of this setup. So that would be all. If you have any questions, feel free to leave a comment below and we'll get back to you as soon as possible. Thank you.
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