Hello traders around the world!
My name is Alexandre Karim and today I want to talk about NZDCAD for a possible long position scenario.
On the weekly chart we can draw a descending channel since April 2016 (Low at 0.86573) & November 2016 (High at 0.98831) till present taking multiple touches.
The descending channel shows us an upside gravity + on the higher time frame we can clearly see that the price made a "V shape" and a bullish correction after it.
If we zoom in to the daily chart, we can draw the upper and lower TL of this bullish correction.
Moving to the 4H chart, we can check our areas for a long position. The first one would be a reversal on the lower 4H TL and the second one would be a breakout of the upper TL + giving us a continuation after.
I will be focusing on the 1H chart to execute the trade.
These are two possible scenarios on NZDCAD!
What are your thoughts?
Remember, patience is key!
Wait for the perfect set up before entering any trade.
#ThePrimes
My name is Alexandre Karim and today I want to talk about NZDCAD for a possible long position scenario.
On the weekly chart we can draw a descending channel since April 2016 (Low at 0.86573) & November 2016 (High at 0.98831) till present taking multiple touches.
The descending channel shows us an upside gravity + on the higher time frame we can clearly see that the price made a "V shape" and a bullish correction after it.
If we zoom in to the daily chart, we can draw the upper and lower TL of this bullish correction.
Moving to the 4H chart, we can check our areas for a long position. The first one would be a reversal on the lower 4H TL and the second one would be a breakout of the upper TL + giving us a continuation after.
I will be focusing on the 1H chart to execute the trade.
These are two possible scenarios on NZDCAD!
What are your thoughts?
Remember, patience is key!
Wait for the perfect set up before entering any trade.
#ThePrimes