LOOKING TO GO SHORT ON NZD/CAD
NZD/CAD 15M - As you can see price has recently traded us up and into the Supply Zone marked out above.
We have now seen the result of Supply being introduced into this market as price has started to trade us lower, in order for us to have confirmation to go short we want to see a BOS.
Once we have been delivered with a BOS to the downside we can then look to get introduced into this market as price has confirmed the S&D flip. We will look to get introduced on the pullback.
By waiting for price to pullback after the initial break of structure we are allowing price to grab any remaining Supply and it means we can get involved with a more refined entry and a greater RR.
We have now seen the result of Supply being introduced into this market as price has started to trade us lower, in order for us to have confirmation to go short we want to see a BOS.
Once we have been delivered with a BOS to the downside we can then look to get introduced into this market as price has confirmed the S&D flip. We will look to get introduced on the pullback.
By waiting for price to pullback after the initial break of structure we are allowing price to grab any remaining Supply and it means we can get involved with a more refined entry and a greater RR.