Hey Everyone, looking to short NZDCAD in the next couple hours after the new market day is confirmed and candles closed.
D - At a key area at the second touch of a with an overall bear market.
4 HR - at top of structure; descending within a descending; candle which is a beautiful sign this could be an opportunity to get in short for a long ride down, at least to the recent low near .83617; also a scoop pattern here (double touch at top of channel
1 HR - currently in a correction after the break down out of the . Impulsed out now waiting for a cleaner spot to enter. Few option to getting in is a hover at the top of 15m second touch or a possible entry at bottom, outside of structure for a Reduced risk entry.
Price can go early or consolidate for a while so have placed on alert at the top of second touch on the 15m and will monitor if there is a hover and breakdown to down side.
Potential for a 10% move on this if able to hold to the down.
Been backtesting to keep my mind at ease with all this waiting. Will wait and stay out of the market until new market day is open (11am HST ) and a little more hover correction before placing an entry.