POTENTIAL LONG TRADE SET UP FOR NZDCAD
Analysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout.
The price has approached a previous swing low zone on the higher time frame (HTF) while moving within a descending broadening wedge. On the Mid time frame (MTF), we have a bearish impulse and bullish reversal structure. We will now monitor for a continuation structure to identify a potential entry point for the trade.
Expectation: A upward move is expected, with the target set at the top of the descending broadening structure.
⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
The price has approached a previous swing low zone on the higher time frame (HTF) while moving within a descending broadening wedge. On the Mid time frame (MTF), we have a bearish impulse and bullish reversal structure. We will now monitor for a continuation structure to identify a potential entry point for the trade.
Expectation: A upward move is expected, with the target set at the top of the descending broadening structure.
⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.