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VanSteenMarketResearch

23-4-17 NZDCAD potential setup, key level + trendline rejection

Short
New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
VanSteenMarketResearch Updated   
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZDCAD short Double Top Trend Lines trendlinerejection Bearish Patterns breakdown Shooting Star supportr resistancerejection
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nzdcad short doubletop trendline trendlinerejection bearish breakdown shootingstar supportr resistancerejection
NZDCAD rejection a potential trendline on the bigger timeframe, tests it for the second time, market closed with a strong bearish candle on the 15M chart. When we see more bearish momentum showing up we can take it short to 0.9421. Decrease risk because of this strong 0.9454 level between entry and target. If it completes this pattern it's an double top pattern too.
Comment:
Let's wait for more bearish rejection followed by a bearish move
Comment:
Came really close to target, looking at the average volatility of the market you should be in profit on this one
Trade closed: target reached

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