ZyCho

Looking for short opportunity

Short
OANDA:NZDCAD   NZD/CAD
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https://uk.tradingview.com/chart/ticRKz5f/#

Hi guys, just sharing my analysis. Feel free to comment so I can learn too :)

On the daily time frame, price creates a bigger down side channel. Price is currently at the top of the channel.
At the current swing, prices created an upward channel but the channel was broken, as well as a break and close below the higher low. Therefore the market structure signaled me for a short opportunity.

At the lower Time frame, price is probably retracing to retest the previous higher low.
Entry: 0.90847
TP: Bottom of the channel (Approxi ~0.82656)
SL: 0.93260