📈 Let's dive into this forex pair, NZDCAD, for trading in futures markets and conduct an analysis.
💰 In the 4-hour timeframe, after losing support at 0.82951 and experiencing a downward movement, we've almost reached a point where we're pausing in terms of both time and price in this timeframe.
📉 The support we've formed in the 4-hour timeframe isn't a significant level in the market, and there's a possibility of losing it and reaching the daily support at 0.80975.
🚫 Currently, my focus is on short positions in my strategy, and I don't have any immediate plans to open long positions before breaking the resistance line at 0.81889.
🎯 However, I aim to open short positions for the downward wave and the loss of support at 0.81502, preferably with a tight stop loss to reach my targets quickly.
🔄 The range of 0.80975 serves as a good support level for price reversal and trend change, but until we reach there and don't initiate a trend change, our plan is to open short positions.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
💰 In the 4-hour timeframe, after losing support at 0.82951 and experiencing a downward movement, we've almost reached a point where we're pausing in terms of both time and price in this timeframe.
📉 The support we've formed in the 4-hour timeframe isn't a significant level in the market, and there's a possibility of losing it and reaching the daily support at 0.80975.
🚫 Currently, my focus is on short positions in my strategy, and I don't have any immediate plans to open long positions before breaking the resistance line at 0.81889.
🎯 However, I aim to open short positions for the downward wave and the loss of support at 0.81502, preferably with a tight stop loss to reach my targets quickly.
🔄 The range of 0.80975 serves as a good support level for price reversal and trend change, but until we reach there and don't initiate a trend change, our plan is to open short positions.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
