NZD/USD 25 JULY 2012

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Price continued to fall yesterday, breaking the A low and starting the reversal process on this timeframe.

FOR TODAY:

We now need to wait for a retracement to the 618/786 for a sell entry.

If we don’t get the set-up we are looking for then we don’t trade.

SHORT: Will be going short only IF:

We will wait for a retracement up to the 618/786 for a short entry.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:

No long trade setups today.

If we don’t get the setup we are looking for then we don’t trade.