Over the last few months, I've been mentioning to members that the banks will start creating a large short position on the $nzdusd and that we should prepare to ride price to the downside with them. I could see them start to build this position right after contract expiry. That is when it was possible to see their shorts become aggressive, as shown below with the cells coloured red.
Thing is we couldn't just open a short position on the pair because there was one last weekly demand zone, created by the banks, and we wanted to see them take this zone out. Today that is exactly what happened. What we have been waiting for has finally taken place.
Members and I will now wait for certain things to take place to validate the new supply formed by the institutions and when valid, we will be opening up shorts and riding price downwards with the big money! I believe we'll be seeing 0.65's soon!
Hope this journal entry was helpful!