Profit taking at supply area as It holds In eur/nzd

First take a look the post Which I posted This weekend click here

Price opened up with a big downside gap which was quite elongated in this type of scenario and should be ignored in overall context. But the most important part was that price found strong momentum off the lows when it test the breakout area or Minor development area (which was same in this case) as it rarely happens . There was long sideways movement for a complete day but it protect the earlier lows which is a good sign of price finally test the supply at 1.5694.

Take a look at the updated chart of Eur/nzd

While we built any Forex trading system Or read any Forex books or even look out for Forex forums, the Most Important part is missing piece of logic. While driving a trade or carrying forward a confidence One should be aware of all these logical facts which drives the market and We should be quick to get in and get out if situation opposes. And that is why Price Action Trading has an edge over Any mechanical systems using Bollinger bands, RSI or Any other advance level of Indicators.