Lots of confluences for this trade to get SHORT as u can see from the chart: Resistance Fib level High test candle Deceleration 50 ema bounce
NZDCAD - Selling Set Up - CAD Strong at this time !
Last time i saw a set up but it doesnt triger , lets see if this Set Up Breaks out nicely
Confluences: 1/ with the recent formed downtrend 2/ Broke TL + retest 3/ Tested the 130.000 weekly resistance 4/ Bounced of the 50% fib. 5/ high test, followed by inside bar set up, followed by another high test 6/ 50 & 60 EMA's bounce
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)