Market is at the bottom of a Bullish channel and is forming a bearish dark cloud cover on the weekly
Prior the market formed a bearish double top but failed to hold. Market found a strong level of support
at the top of the double top. I see the market forming a Bullish head and shoulders with the right tip at
the bottom of the channel.
I expect the market to...
NZDCAD (Buy low sell high)
Reasons to go long
1 the market rejected the 61.8 monthly fib level
2 market broke the daily trend line
3 the market is forming a head and shoulders
on the daily as well as on the 4 hour.
the daily high is not yet confirmed . the best way to
Take advantage of this trade is to wait for the retest
of the trend line.
I'm wrong
if...
1 On the monthly the market is in a up AB rejecting the 78.6 retracement level.
2 To confirm the market is bullish we need to break the daily trend line
3 the market to form a higher low
4 the market to form a new higher high
My first indication is a fake out on the 4 hour wish indicates the market is bullish.
daily hit the 127 Extension level so I expect a...