We were in up trend in NZDCAD then we had huge consolidation period making January 22, 2019 to February 06, 2019. Finally Market broke the and moved according to expecting as is indication of trend reversal (after 3 move generally). Market Broker the and immediately rejected by (old ) 0.8920---0.8930. Market moved up and during in up trend market made new 0.8975----0.8985. Market should have continued moving up as the trend was but sellers showed their presence and immediately pulled the things back and price dropped till 0.8936. Interesting to note is that market is rejected by (new ) as well. Rejection from new is also very beautiful i.e. full candle has not closed inside i.e. market kissed the with which indicate .
Two possibilities are there
i. if market move up and kisses 0.8975---0.8985 area then we will have very huge short set-up with very low risk and high reward.
ii. if market breaks old and go down 0.8920 then we will expect a pull up till 0.8920---0.8930 that will also be very good short set-up. I will update in my channel. Kindly like my idea, follow me on tradingview and comment your thought. Thanks.