NZDUSD reached my 1H supply, but I needed structure to confirm that sellers were actually stepping in. The bearish I-BOS has now given that confirmation.
I'm not interested in selling NZDUSD at the current price. The confirmation has already appeared, so now patience becomes the edge. I want price to retrace toward 0.57404 before entering.
There is IRL above current price, which could provide the liquidity for the retracement I'm anticipating. If price trades higher into my entry area and respects supply, I'll be looking for the bearish expansion.
NZDUSD is a good example of why I combine higher and lower timeframes. The 1H identified where I wanted to sell, while the 15M gave me the structural confirmation to execute.
The 1H supply has been respected and the lower timeframe has shifted bearish with an I-BOS. My next objective is the liquidity resting around the lows.
I don't need NZDUSD to fall immediately. In fact, a retracement is exactly what I'm looking for. Let price trade back toward the IRL/supply area, give me my price, and then I'll look for the sell continuation.
