They say study the past to predict the future…
And I have to say, I agree with it.
I’ve seen it over and over again in the charts. The best way to see what the market is likely to do, is by understanding how it has behaved in the past around similar levels.
Now, let me show you one chart:
I’m not suggesting going short yet. The best strategy here would be to wait for the market to clearly break the congestion zone, and then go short. For now, we need to patiently wait for the right moment (after all, this is what trading is all about, isn’t it?)
What amazes me, is that it is behaving in the exact same way (as the previous green box), like all traders and investors decided not to trade the NZDUSD at these levels; there is no volume at all…
Anyway, what do you think? Are you planning to trade the NZDUSD?
Let me know.