Here we have a BEARISH 2618 TRADE SETUP on FX:NZDCAD . Market was able to break previous structure (HL) and made a new lower low (LL). Now it has retraced back to 61.8%Fib retracement level for nice shorting opportunity. I havemarked my entry price on the chart above and market is close to the entry point for this setup. Risk to reward for this setup is also quite favorable. See the chart above for more details.
NOTE #1: See the idea under the "RELATED IDEAS" section below, for detailed description on 2618 trading strategy.
NOTE #2: We could also have a POTENTIAL AB=CD Move completing at the 2nd target of 2618 trade setup. We also have some well respected 4 HOUR and DAILY at the 127.2% Fib extension level. This level can be a good place to close all SHORT positions and opening LONG positions from the same level. See the chart below this description for further clarification.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)