NZDCAD formed a bullish Wolfe Wave in the H4 time frame offering us a perfect buy set up. I suspect there will be a minor correction before a continued uptrend. However, price can ignore the correction and continue on its way up.
Either way, this will be a good long for next week. Happy Holidays!
Wow, you nailed this! The price gets scared of your yellow line!
Trader_Dale
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Thanks for your great analysis!
Here is my view on NZD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action are three very strong resist/support zones. All of them were created with heavy volumes of big players - you can see it on the Cummulative Volume on the right side. The closest level: 0.94426 is placed on the biggest volume of the year (Point Of Control). The biggest volumes of the year were placed there and moved the price agressively lower. This is definitely the place I would like to go short!
There are more Market profile swing and intraday analysis at my profile page. You are very welcome there!
Dale