NZDCAD - Potential Bearish Reversal!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
DAILY: Left Chart
NZDCAD is sitting around a strong resistance zone in blue so we will be looking for sell setups on lower timeframes.
M30: Right Chart
NZDCAD is forming a trendline in red but it is not valid yet, so we will be waiting for a third swing to form around it to consider it our trigger swing. (purple projection)
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it. (gray area)
Meanwhile, until the sell is activated, NZDCAD can still trade higher.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DAILY: Left Chart
NZDCAD is sitting around a strong resistance zone in blue so we will be looking for sell setups on lower timeframes.
M30: Right Chart
NZDCAD is forming a trendline in red but it is not valid yet, so we will be waiting for a third swing to form around it to consider it our trigger swing. (purple projection)
Trigger => Waiting for that swing to form and then sell after a momentum candle close below it. (gray area)
Meanwhile, until the sell is activated, NZDCAD can still trade higher.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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