Forex Price Action Baby, No Technicals or Fundamentals…Trade #2 – Sold NZD/JPY

10,000 Foot View – 4 Hr Chart

Zooming In

What I like about this zone is its a level on level zone. Meaning as price left the zone it actually formed another zone as indicated by the yellow circle. Price has already reacted to this lower zone as indicated by the wick (pink zone) denoting sellers in the area.

Because price has been making higher highs and higher lows, this is a counter-trend trade. The trade set-up is offering at least a Reward to Risk ratio of 3:1.

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