After one shoulder, head, shoulder the NZDUSD has completed this end of the second shoulder over the resistance that of 0.7005-0.7020. After such a continuous fall and after not being able to overcome this resistance we can only expect a price increase of at least a few pips. However, it would have a fenced SL since always in operations of this type, some risk is...
Price has entered the supply zone. Lots of rejection candles and patterns forming on smaller timeframes. Looking to take it down back down to the demand zone before we see buyers coming back in.
Taking a short here after price broke the trendline and rejected the 1HR & 4HR resistance zone. Looking to continue the overall bearish trend of this pair
I am short on USDCAD - I explained in detail the idea behind the trade in my members telegram chat. Yellow zone = previous gap. 0.718 retracement complete. Wait for break of support.
I will attach the link to my prev analysis - price broke trendline and tested resistance as I had listed as a possible outcome. I will be looking for signs of rejection from this resistance level or a possible sell from a 0.618 fib retracement. Remember let the candle patterns form and choose your entries wisely. Happy trading everyone!
