On Daily: Left Chart NZDCAD broke below a previous major low so it is now acting as a local resistance zone, thus we will be looking for trend-following sell setups on lower timeframes.
On H1: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low in gray.
📉 Meanwhile, until the bears take over, NZDCAD can still trade higher for an over-extended correction movement.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Richard Nasr
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.