Get started

Breakandretest

NZD/CAD - Break of Structure and Textbook B&RWe've seen NZD/CAD in a long term uptrend. We see a break of structure, a retest of a previous structure low before bears enter the market. Look at these textbook break and retest setups and potential entries you can take to the downside! A break and retest is when price breaks through a previous low in the market, retraces and tests this level as resistance before continuing the downside move. Watch out for these types of setups across your currency pairs!
Short
by Jal121
2
NZD/USD - Textbook Break and Retest SetupsNZD/USD has been on a long term uptrend since March 2020. Zooming into the 4hr we can identify an ascending channel that has been respected for some time. Here can see that key levels are being broken to the upside and price is coming back to retest the level as support. From these levels we can take out long positions as a break and retest setup. It will be interesting to see whether price continues it's bullish move and break through the 0.73 whole level, already once respected. Drop me a message if you'd like to ask any questions.
Long
by Jal121