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NZDCAD

NZDCAD time to retrace 🦐NZDCAD on the 4h chart after the over-extended impulse started a retracement move. The market, after the 1st bearish leg , retraced at the weekly resistance where the 50% of the move stands. The move left some liquidity below the support area and we can look for a continuation of the retracement. How can i approach this scenario? I will wait for a possible break of the support and if that will happen i will be looking for a nice short order according to the Plancton's strategy rules. ---- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
by InkyGrip
NZDCAD: Bullish Breakout Price action has successfully broken the descending parallel channel. We can see Price has tested the Channel support and Resistance line on several occasions. Bullish indications Price action is achieving new Higher Lows and Higher Highs and a breakout starting from the median line of the channel is a good sign. Price has respected Fib level 61.8% which is now our support level which indicated use of fib level can be beneficial for TP and SL. 0.86365 is the next Resistance zone line. Last 10 years Seasonal analysis indicates Zxy remains Bullish in December over 66% of the time while CXY remains Bullish only 50% of the time. No Divergence was Spotted. Manage your Risk accordingly.
Long
by adnanmagsi