NZDCAD - Sell

Detailed analysis

1- Price is in a downtrend on the 4H so we should be looking to sell
2. The bank has done a Stop hunt/liquidity hunt ie taking out stop losses (See where I marked X) from previous sells
2. Price has retraced to the 50% Fib (If SL is hit and it goes to the 61.8% we may look to re-enter. the sell from there)
2. Price always has to rebalance itself
- It has rebalanced the wick (see yellow circle on left)
- it has rebalanced 50% of the Institutional bearish candle
3. Confluence - there is confluence between the 50% Fib and Stucture

TPs are based on structure. Tp4 is based on a possible liquidity hunt of buyers SLs (ie. Stop Hunt)