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Nzdcadshort

NZD/CAD trendline reversal update with a new short setup- NZD/CAD failed to broke trendline on the D timeframe and we saw weakness in the pullish movement. - We took this trade with market logic as we saw price is at a swing point (trendline - zone area). - Price already broke our last trendline on the correction move and we predicted the bearish movement also the breakout before it happens. - Price now hit our first target and already broke the last major support nearly at 0.85800. - We can wait for a correction to 0.85800 and then if we have a candlestick psychology confirmation we may put another setup at 0.83000 to catch 280 pips.
Short
by Sphinx_Trading
NZDCAD, price action explained. Hi Traders, NZDCAD has been moving within a LTF descending channel which we got a breakout and now forming a correction. This could be an indication price may move higher to the upper boundary of the HTF channel or price could simply fail to push higher and drop down back into this channel. Watch the price action before finding an entry, make sure follow your trading plan before placing an order. Good Luck! Click the like button if you agree with this idea. Comment below and share your view on this pair!
by ktlfx