NZDCAD Look for breakout and continuation from here

Hi traders:

I am looking at NZDCAD for short term sell opportunities.

Looking at the higher time frame, we see a larger channel structure, and price is currently sitting at the top of that channel and reacting to a double tops as well.

Zooming in on the lower time frame, we see price correctively move up to that general area, which is a good sign that a bullish momentum may be exhausted, and we could see sell opportunists coming into the market.

Currently price is still in this last bit of ascending channel structure, so I would wait for a confirm break out of this structure, and look for continuation correction to sell.

Look to see what price will do at the lows of the structure.

Thank you

Yorum:

higher time frame:

Yorum:

Price broke out from ascending channel, formed the right shoulder of the Head and Shoulder pattern. Look for sell out here.

Yorum: