NZDCHF 16/5 Postmortem
16/5 Overall market still on a Daily uptrend.
1. Upstrend Channel H4 bias BUY with break and retest strategy at the lower trendline.
2. Caution: Price recently tested the Daily descending trendline the 3rd time & closed below previous high.
3. Until price violated the channel support trendline, looking for price to go further up.
Setup for buy is still valid, then we look at entry reason.
1. Price at H1 created a new high and start to retest the area previously broken (ascending Flag). (Break & Retest step 1 ok)
2. Then price rejected the area (red line) instead bearish candles continue and test back the support area (blue line) and broke it. So no ENTRY REASON.
(Break & Retest step 2 invalid)
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