NZDUSD (Repost) Long

From start to finish here is the analysis.

It looks like the institutions built a position in the purple box. It is a rotation.

The positions they built were sell positions, we can tell this by the move downward from the purple box.

However, that move was rapid and looked like nzdusd was going to drop heavy, but it reversed.

That was a trap move, you can see all the equal lows below the purple box and to the left of it, so many people were watching it and
most likely got trapped short. You can also see price ran up and cleared the previous high which is where their SL's most likely were.

The most volume in the purple box is at .6612 , I will be looking to buy here.

I believe the smart money wants to climb higher, so they would want to close there short move out that trapped people. I believe that position is at .6612 like i said.

I'm looking for a reaction there and we currently have a bullish ABCD completing at that spot as well as a .618-.707 retrace.

I'm not sure if we will hit the target on this one, but that's not what we get paid for. I will enter because I'm expecting some sort of reaction, and I will manage it as we go. It's tricky because today is friday.

I will be using the 5min for entry on this. I will post my entry trigger when/if I enter.

Watching for now.