Hi Traders! We have NZDCAD sell setup forming at the moment. A detailed analysis of this bearish opportunity is as follows:
NZDCAD Daily Chart:
On the daily chart the price which is moving higher has created a special cycle. Currently it looks like this special cycle is completing itself, if it completes itself then we may expect possible retraces to happen. We may now look for more evidences of bearish pressure on lower timeframes in order to join the bears.
NZDCAD H4 Chart:
On the H4 chart the price has created a triple top. In addition to this we also have bearish divergence which we may consider as an evidence of bearish pressure. Hence everything looks good here for the bears.
NZDCAD H1 Chart:
On the H1 chart we have a critical zone that has formed. We may now expect pullbacks to happen from the current zone towards this critical zone. Once the price reaches this zone, we may then start looking for sells with bearish evidences.
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 sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $197 PER YEAR.
Also you can get one of my strategies free of charge. You will find all the details here
Yours to your success