moa_trading_journal

NZDCAD – Bearish momentum on the run

Short
OANDA:NZDCAD   NZD/CAD
NZDCAD price has been rejected from top of structure that I’have marked in my previous analysis. Now, it seems to continue its bearish momentum until recently.

Now, I want to see NZDCAD start to form a bearish continuation structure to confirm the further move to the downside. A break of any bearish continuation structure (At leash H1 TF or above) will trigger my additional short entry with sl above the continuation structure.

My first target is around 0.88800 area which is the bottom of big ascending structure. If the price can break that area, than we will have a larger profit zone. My second target is around 0.86300 area with final up to 0.82000 area in the long term.

For now, lets see how will the price develop. Good Luck.

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