Guess the trend!
This is a live chart from NZD/JPY , H4
Trend is not all always about direction. Trend is dictated by structure. Specifically by the rules:
– If the price stays below the LH, it’s within the same downtrend.
The price started making some bullish structure, overextended structure for quite some time, but we can see the price is really below the LH of the downtrend structure.
Meaning, there is no new HH formed and no new uptrend. So, the downtrend must be used in confluence to our preparation.
Judging the latest structure, we can visualize that the momentum doesn’t respect the continuation of that bullish structure, but rather it’s very weak.
Using that within the confluence basket, I am able to prepare for a bearish opportunity that’s aligned with the confluences, to use the SS HL for a reversal of the bullish structure into bearish on smaller scale, with a continuation down to the Low of the HS.
Have a great week!
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