NZDCAD corrective structure

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
10826 19 279
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
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. \
zhuxudongalex itispossible
@itispossible, THANKS a lot, this NZDCAD may take a while to go down, we should wait...
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...
Is this short still in play or has it stopped out in your opinion?
anilmangal 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.
ajschmidt100 anilmangal
@anilmangal, So I shorted at .786 and this is shaping up nicely. Did your trade ever trigger?
through. Trendline
Up and up.
@higunraya, and up and up ... but it will go down down down down
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