NZDCAD is in a very high value aea right now. It has now complete the 3rd touch of ascending channel structure in cmmbination with double top areaa (inflection point) in higher TF structure. This is a very igh value area to sell.
Nevertheless, with we must pay attention to how the price approaching this area with impulsive leg. Because of that, I cant take any trade here blindly.
We need first to wait for a little bit of confirmation before executing any trade. One thing for sure is I will only look for sell setup in this area. All we need now is an impulsive rejection from this area to the downside, continued by a break of bearish continuation structure (ie: bearish flag, rising wedge, pennant, etc).
In this area, if I get this bearish continuation structure, any break from this continuation patttern even on small 15m TF will do and will trigger my short sell entry with sl above the continuation structure.
Good Luck..
Nevertheless, with we must pay attention to how the price approaching this area with impulsive leg. Because of that, I cant take any trade here blindly.
We need first to wait for a little bit of confirmation before executing any trade. One thing for sure is I will only look for sell setup in this area. All we need now is an impulsive rejection from this area to the downside, continued by a break of bearish continuation structure (ie: bearish flag, rising wedge, pennant, etc).
In this area, if I get this bearish continuation structure, any break from this continuation patttern even on small 15m TF will do and will trigger my short sell entry with sl above the continuation structure.
Good Luck..