FX:NZDCAD   New Zealand Dollar/Canadian Dollar
If you take a look at the chart it shows that perfect sample of DOW theory, when the trend breaks out the previous high point and makes the new higher low point, then it might be the sign of that trend has been reversed but we cant open a position immediately. It is always better that we wait until the price comes back to the trendline and check the resistance (it gives us the opportunity that can open a position with higher R&R ratio plus much safer trade.
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.