NZDCAD Setups 060721
Updated
Reasons to SHORT
Really want to see some sort of retracement as drawn before entering short position, as price has been producing strong bullish impulse rally past days, without a retest it can be a riskier trade
1. 1h Level of resistance
2. Price on 4h Daily has been making LH LL structurally
3. we are on a potential reversal of swing high
4. 0.382 retracement on daily Fibonacci retracement
5. 4h 50EMA dynamic resistance
6. 20EMA bearish crossover
7. Last 4h swing high 0.618 retracement
Confirmation candle
N/a yet
Really want to see some sort of retracement as drawn before entering short position, as price has been producing strong bullish impulse rally past days, without a retest it can be a riskier trade
1. 1h Level of resistance
2. Price on 4h Daily has been making LH LL structurally
3. we are on a potential reversal of swing high
4. 0.382 retracement on daily Fibonacci retracement
5. 4h 50EMA dynamic resistance
6. 20EMA bearish crossover
7. Last 4h swing high 0.618 retracement
Confirmation candle
N/a yet
Trade active
Entered Short position @ 2%
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