magnetrixfx

magnetrixfx

On weekly time frame NZDCAD shows it completed a retracement/consolidation period and now its in a continuation of upward movement towards the next resistance zone. Understanding the market psychology is a core element of being a pro trader who can swing and hold since the market structure is most important in analysis and the top down analysis,.

magnetrixfx

A retest then a continuation to the short side. According to the market cycles still there are more pips on the down side.

magnetrixfx

Price reached resistance and now price is dropping. i follow technical

magnetrixfx

Price bounced on a support level hearding up

magnetrixfx

We expect to sell sooner the EURUSD but after we get a confirmation from reversal candle pattern

magnetrixfx

If price is going to respect the price level at this time then the GBPNZD would reverse and rise higher, i hope to see a bullish reversal pattern as my confirmation to enter Long positions.

magnetrixfx

As we see on Daily time frame a pin bar has been formed on a daily resistance level and on the H1 time frame price formed a head and shoulder pattern as well as it broke the trendline, so we anticipate a bear market for this week on GBPAUD