Short NZD/CAD

18 Oca 2023

Hello Traders, I have entered a short position on NZD/CAD. Here are my main reasons for shorting this pair ->> Looking at the weekly chart, we have a very STRONG bearish engulfing candlestick. Price is starting to reach area of resistance most likely forming a double top. If you look at the 4hr chart, I'm looking for signs this pair will reverse downward and you can clearly see a very bearish engulfing candlestick had developed. For extra confirmation, there is a 4hr bearish divergence as well.

Entry: 0.86962

TP: 0.85958
SL: 0.87833