Kiwi Zoned In!

Good afternoon ladies and gentlemen

Another early post today as I have a busy evening ahead.

So let's see how the Kiwi is progessing so far today. Yesterday we saw a drop in price triggered by a familiar confluence of events. We were left wondering how far price could drop and looking at today's action, on the 1 hour chart below, we can see price initially broke through a S Line but was then pushed back. The resulting spinning top caused price to fight back just short of the R Line and has since been moving sideways within the zone.




So what could we expect next? Ultimately we are waiting for a BOB to give us an indication of what direction we could expect the trend to turn. Could we be going with the major trend or do we have a reversal on our hands? What are the other indicators saying? Do we still have a divergence on our hands? As SM, we should know that a BOB is not enough. A confluence of events meeting those on your TP should be the real trigger of any thoughts to jump in on a trade.

I will leave you with this thought "Keep your fears to yourself, but share your inspirations with others!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari