Disclaimer : This is not investment advice. Past performance is not an indicator of future results.
Hi Traders! NZDCAD bullish structure provides buy opportunity for us. A detailed analysis of this bullish setup is as follows:
NZDCAD D1 Chart:
On the daily chart the price has created a bullish divergence based on the MACD indicator and then the price moved higher creating higher highs, we may consider these as evidences of bullish pressure. We may now look for retraces to happen and then we may start looking for buys with more bullish evidences.
NZDCAD H4 Chart:
On the H4 chart the price has created three higher highs, higher lows structure, we may consider this as an evidence of bullish pressure. Currently it looks like the retrace that we are looking for is happening now. Once the retrace completes itself we may then start looking for bullish setups with bullish evidences in order to start looking for the buys.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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