Setup on GBPNZD on the Signal Strength Meter on July 1st 2019
Today is the 1st of July 2019.
With a look at the Signal Strength Meter, I almost see no setups as it seems to be a slow Monday.
But as you see in the image below, I came across a sell opportunity on GBPNZD.
I first looked at the bottom individual currency strengths, and I saw that the only currencies that are at least 2 points apart are GBP and NZD, or GBP and CAD. Therefor these are the only two pairs I might trade.
The Higher Timeframe score of GBPCAD is only -1 which is too neutral. I would rather leave it alone.
I look at GBPNZD which has scores of -3 (current Timeframe) and -4 (higher timeframe).
Looking at the chart, you see that GBPNZD had broken a support line, and retraced to test it.
We wait now for it to go below the highlighted pinbar below, and continue downwards:
