NZD/CAD - Bullish divergence characteristic!
Overview
NZDCAD
was in a bearish trend, however, bullish divergence was formed on RSI and price has since formed a higher high signalling a bullish trend!
Analysis & Plan
Price has formed the first higher high after experiencing a downtrend. Last two times when bullish divergence was formed on price, it lead to a bullish trend as marked on chart with the yellow lines! Price has already created a higher high and I am expecting this characteristic to repeat again! All bullish and bearish factors considered for this trade are displayed on the 4 hour chart!
NZDCAD
was in a bearish trend, however, bullish divergence was formed on RSI and price has since formed a higher high signalling a bullish trend! Analysis & Plan
Price has formed the first higher high after experiencing a downtrend. Last two times when bullish divergence was formed on price, it lead to a bullish trend as marked on chart with the yellow lines! Price has already created a higher high and I am expecting this characteristic to repeat again! All bullish and bearish factors considered for this trade are displayed on the 4 hour chart!
Comment:
TP hit! Bullish Divergence characteristic played out!