NZDCAD SHORT SETUP
NZDCAD got rejected getting in contact with the 2018/2019 highs and resistance @ 0.9250 zone, price is now trading below the UPTREND extending from the lows of the WEDGE PATTERN we had in 2020 which actually set price higher to the 2018/2019 resistance zone.
With price trading below the TRENDLINE, price is going to retest the support zone @ 0.9000 which also align with the resistance zone at the top of the WEDGE PATTERN.
With price setting lower, respecting minor levels taking them one after the other, going into the new week i'll be looking at @ 0.9104 acting as new resistance for more downside with target at 0.9000
with the trading plan on the screen that's a 1:2 RR.
With price trading below the TRENDLINE, price is going to retest the support zone @ 0.9000 which also align with the resistance zone at the top of the WEDGE PATTERN.
With price setting lower, respecting minor levels taking them one after the other, going into the new week i'll be looking at @ 0.9104 acting as new resistance for more downside with target at 0.9000
with the trading plan on the screen that's a 1:2 RR.
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