Looking for a potential short opportunity for NZDCAD.
Weekly - Downtrend with trend falling well below 200 EMA + Stoch Overbought
Daily - Rejection and Bearish engulfing daily candle off Daily Resistance Zone
4h - Nice bearish engulfing candles, looking for 50% pullback before considering Shorts.
*Note to self - Check OIL Trend if Bullish more confluence to short.
Strong Weekly Bearish trend, strong support previously shown at 0.66750 however we have seen a double top forming with signs of rejection at the 61.8% fib. Could see price break and rise higher however S/L is placed above descending channel.
Bias is Short as DXY has seen strong bearish push lately and is now due a bullish correction, strengthening the $. Inverse...
CADJPY - SELL STOP
ENTRY: 80.807
SL: 81.650
TP1: 79.300
TP2: 77.800
CADJPY Broke out of a strong hourly channel and retested and is now on a bearish trend!
This has just made a bullish correction on the 1Hr and has broken through the support zone, potential possibility this will continue to previous support
