NZDCAD H4 Pennant Formation
Price is forming a pennant pattern as it tests an important resistance channel for the 3rd time. If price breaks this channel the formation becomes active and the target would be as it is shown on the chart. Good Luck!
Note
Pennant pattern couldn't work, price couldn't penetrate the resistance channel and now it looks like a double top. after a 4H candle close under the blue channel, a short position with a relatively shallow stop loss zone might be an alternative.
Trade active
Trade closed: stop reached
Stopped out.
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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.