Roker1
Short

Nice short setup on NZDCAD

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Hey guys,
this is the 4hr chart on NZDCAD             but my analysis, as usual, starts from higher timeframes: on the daily price has just touched a key level of structure (yellow box) along with the D point of an AB=CD pattern. As we go on lower timeframes such as 4hr you can see price has formed a pinbar followed by an engulfing red candle in overbought condition. Then at the retest of the highs we see RSI divergence and less strength in price action.
These are all good signs for a reversal. Let's see how it plays out.
Stops above highs, targets as displayed above.

If you have any question or if you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: stop reached
Se sei d'accordo, lascia un mi piace! Grazie
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Ultimo video: https://youtu.be/0rIFF-j4kdM

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