anilmangal
Short

NZDCAD corrective structure

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
10755 19 277
Hi Guys, the NZDCAD             is in a corrective structure which can be 3 or 5 waves. The next impulse in this structure will be down. Look for sell setups after the break.




Comment: OK so we got the one more up now look for possible sell setups
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You should've waited to see a reaction to resistance at the top of the range before going short. It's never a good idea to short at the trendline. Wait for the reversal confirmation before entry /\. In this case it broke the resistance and kept running up. No trigger. \
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zhuxudongalex PRO itispossible
@itispossible, THANKS a lot, this NZDCAD may take a while to go down, we should wait...
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I guess we should wait for the news of BOC (canada) for tomorrow, it may be 0.9650-0.9660 area, big resistance area, the best short entry may be triggered the beginning of next week...
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Is this short still in play or has it stopped out in your opinion?
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anilmangal PRO ajschmidt100
@ajschmidt100, how would it be stopped out if the trade never triggers? But yes the 4 hr structure is still a correction only this time we wait for a different setup for the sell.
+1 Reply
ajschmidt100 anilmangal
@anilmangal, I must have misunderstood your idea then. I thought you were suggesting a sell as the price tested your upper trend line.
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ajschmidt100 anilmangal
@anilmangal, So I shorted at .786 and this is shaping up nicely. Did your trade ever trigger?
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through. Trendline
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Up and up.
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@higunraya, and up and up ... but it will go down down down down
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