NZD/CAD - Short

9 thg 4, 2019

Here we some have analysis on the pair NZD/CAD on the 4hr. I am going short on this when I see the opportunity at the moment it is going down but I feel that shortly it will start an ascent upwards. you could buy in as a short term buy when it bounces off one of the supports.

Looking at the chart when the price action reaches 0.89464 (Yellow Zone) this could be a potential reversal for the uptrend at this point I will be keeping an eye on the candlesticks patterns for a bullish candlestick as the bulls maybe in the market.
If that Yellow zone is broke it will continue its descent to the support zone where it has been tested 4 times already, Again at this point I will be looking at the candlestick patterns to find a potential bullish candle formation.
If the pattern does then form which I think it will if it doesn't form at the Yellow zone. it will start it ascent upwards I will be looking for a candlestick formation to confirm this. the price then ascend towards the trendline when price hits 0.90722 (Light Blue Zone) I will be looking as this maybe a new resistance zone forming and it will bounce off this and go down.

let's see how this one plays out

any advice & feedback is welcome via the comments or the chat.