Short Corrective Structure on NZDCHF by ThinkingAntsOK
Main items we can see on the chart:
a) The Major Structure of the current movement is the weekly descending trendline
b) The Second most important structure of the current movement is the Support Resistance zone
c) We can see that the price rejected the zone of the descending trendline + the support resistance zone
d) After that, we observed the broken minor ascending channel (yellow lines) and a corrective structure on the edge of it was formed.
e) Our vision is that IF the price breaks below the corrective structure, we can expect a new bearish movement towards the next support zone
a) The Major Structure of the current movement is the weekly descending trendline
b) The Second most important structure of the current movement is the Support Resistance zone
c) We can see that the price rejected the zone of the descending trendline + the support resistance zone
d) After that, we observed the broken minor ascending channel (yellow lines) and a corrective structure on the edge of it was formed.
e) Our vision is that IF the price breaks below the corrective structure, we can expect a new bearish movement towards the next support zone
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