NZDCAD seems to run in to a range of supply, plus struggling to get passed the HTF resistance.
Show clear signs of higher lows and lower lows and therefor might offer an opportunity for a short.
Show clear signs of higher lows and lower lows and therefor might offer an opportunity for a short.
Note
How that looks on the dailyNote
And zoomed in on the 15 minutes.Price bouncing in a compressing pattern with a clear change of character.
A break of structure and breakout of the compression on the downside might offer that short with a potential great extended target.
Note
I think my short is about to go live. All the green lights are there, except for a close below the previous low, which would make a break of structure.Price seems to made a very typical double top. A steep impuls rally with a fast and steep correction, followed by a channel'ish rise that lacks the power of the previous impuls and so far failed to get passed previous high. The rising channel got broken, which adds up as well, so lets go!
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.