NZDCAD ____ INCOMING BEARISH MOVE (RISKY)
Hello Guys,
I would just point out briefly why I will take this trade if my setup appears despite it being risky and I will also share why I think it is risky.
Why is it RISKY? If you go on the weekly chart, you will notice there was a W pattern and price retraced and printed the continuation of the W pattern which should likely make us reach for higher prices. Which means that price could break above my daily OB.
Why will is still take the trade? This is because we also have a W pattern on the daily that needs retracement and also we just retraced to the supply orderblock which caused a bearish CHOCH on the daily chart.
I will take the short trade if I see a clear bearish CHOCH on the 1hour chart.
Do you think it is a risky trade?
Follow for more updates like this.
Cheers,
Jabari
I would just point out briefly why I will take this trade if my setup appears despite it being risky and I will also share why I think it is risky.
Why is it RISKY? If you go on the weekly chart, you will notice there was a W pattern and price retraced and printed the continuation of the W pattern which should likely make us reach for higher prices. Which means that price could break above my daily OB.
Why will is still take the trade? This is because we also have a W pattern on the daily that needs retracement and also we just retraced to the supply orderblock which caused a bearish CHOCH on the daily chart.
I will take the short trade if I see a clear bearish CHOCH on the 1hour chart.
Do you think it is a risky trade?
Follow for more updates like this.
Cheers,
Jabari