NZDCAD – 1H Bearish Divergence + Strong Resistance 🔻
✅ Setup Summary:
Timeframe: 1 Hour
Signal: Bearish Divergence (Price making higher highs, oscillator making lower highs)
Structure: Approaching or reacting from a strong resistance zone
Bias: Short-term bearish reversal expected
🔍 Confluences:
Bearish Divergence spotted on RSI/MACD
Price is testing or wicking into a previous supply zone / structure resistance
Potential fake-out or exhaustion near resistance
📉 Trade Plan – SHORT Setup
Entry:
On bearish confirmation candle (engulfing, shooting star, etc.)
Or trendline break on LTF (15min-30min)
Stop-Loss:
Above resistance or most recent swing high
Take-Profit Targets:
TP1: Minor support or 0.382 fib retracement
TP2: 0.618 fib level / recent low
TP3: Demand zone or 1H trendline touch
R:R Target: Minimum 1:1.5, ideally 1:2
⚠️ Risk Factors:
Watch CAD volatility (oil-related moves)
If price breaks and holds above resistance, invalidate setup
Confirm with volume or structure shift
✅ Setup Summary:
Timeframe: 1 Hour
Signal: Bearish Divergence (Price making higher highs, oscillator making lower highs)
Structure: Approaching or reacting from a strong resistance zone
Bias: Short-term bearish reversal expected
🔍 Confluences:
Bearish Divergence spotted on RSI/MACD
Price is testing or wicking into a previous supply zone / structure resistance
Potential fake-out or exhaustion near resistance
📉 Trade Plan – SHORT Setup
Entry:
On bearish confirmation candle (engulfing, shooting star, etc.)
Or trendline break on LTF (15min-30min)
Stop-Loss:
Above resistance or most recent swing high
Take-Profit Targets:
TP1: Minor support or 0.382 fib retracement
TP2: 0.618 fib level / recent low
TP3: Demand zone or 1H trendline touch
R:R Target: Minimum 1:1.5, ideally 1:2
⚠️ Risk Factors:
Watch CAD volatility (oil-related moves)
If price breaks and holds above resistance, invalidate setup
Confirm with volume or structure shift
Trade active
already did 2r. if you wanna close you can.Note
TP1 Done
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.