NZDCAD watch for possible reversal
Updated
Daily bias
Over all trend is bearish.
If you look at the chart this pair has been making lower highs and lower low. The Daily candle close is bearish with a big tail.
Adding the Bollinger Band u can see that it has shown a Bollinger band spike signalling a possible return to the mean. Some more markups on daily chart
4h- price resisted point of interest.
Will still be watching how this price reacts to the Point of interest (resistance) If it breaks the resistance will be looking for a continuation to the upside.
4H CHART
If you look at the chart this pair has been making lower highs and lower low. The Daily candle close is bearish with a big tail.
Adding the Bollinger Band u can see that it has shown a Bollinger band spike signalling a possible return to the mean. Some more markups on daily chart
4h- price resisted point of interest.
Will still be watching how this price reacts to the Point of interest (resistance) If it breaks the resistance will be looking for a continuation to the upside.
4H CHART
Note
FOR A BEARISH SCENARIO I WOULD GO TO 1H TF
I would like to see the price breaks the 1h support and the 4h Bollinger band mean.
Entry would be a break and retest of the support (turned resistance)
Trade active
Trade closed: stop reached
closed partial at 1:1.75 then got stoped at brk even
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