I'm looking to sell NZDCAD at 0.8167, expecting a bearish move based on key technical factors.
🔹 Reasons for Entry:
✅ Resistance Zone: The 0.8167 level has acted as a strong resistance in the past, making it a potential reversal point.
✅ Trend Structure: The pair is in a bearish trend on the [H4/Daily] timeframe, forming lower highs.
✅ Moving Averages: Price is approaching the [50/100/200 EMA/SMA], adding confluence to the setup.
✅ Fibonacci Level: 0.8167 aligns with the [38.2% / 50% / 61.8%] retracement from the previous swing.
✅ Bearish Divergence: Possible divergence on [RSI/MACD], signaling weakness in the uptrend.
📉 Trade Plan:
Sell Limit: 0.8167
Stop Loss: [Your SL level]
Take Profit: [Your TP level]
Risk-Reward Ratio: [Your RR, e.g., 1:2 or 1:3]
If price rejects this level, I expect a downside move towards [support level, e.g., 0.8050].
What’s your outlook on NZDCAD? Let me know in the comments! 📊🔥
🔹 Reasons for Entry:
✅ Resistance Zone: The 0.8167 level has acted as a strong resistance in the past, making it a potential reversal point.
✅ Trend Structure: The pair is in a bearish trend on the [H4/Daily] timeframe, forming lower highs.
✅ Moving Averages: Price is approaching the [50/100/200 EMA/SMA], adding confluence to the setup.
✅ Fibonacci Level: 0.8167 aligns with the [38.2% / 50% / 61.8%] retracement from the previous swing.
✅ Bearish Divergence: Possible divergence on [RSI/MACD], signaling weakness in the uptrend.
📉 Trade Plan:
Sell Limit: 0.8167
Stop Loss: [Your SL level]
Take Profit: [Your TP level]
Risk-Reward Ratio: [Your RR, e.g., 1:2 or 1:3]
If price rejects this level, I expect a downside move towards [support level, e.g., 0.8050].
What’s your outlook on NZDCAD? Let me know in the comments! 📊🔥
Disclaimer
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.
Disclaimer
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.