NZDCAD Daily Swing Analysis
Hey Traders,
Looking at the daily structure, we had a fresh strong move down after a very long bullish trend.
When we made a strong move down making a Lower Low it is the very first leg down from the sellers with a strong momentum.
On 4h chart, we have 2 sets of pullback (which generally we need) and after the 2 sets of pullbacks, the last push from the buyers from very struggling and right after we reacted from Strong Support and Resistance Area market has reversed, Sellers are coming in with decent momentum.
In Scenario 1, I prefer that after creating Inverted V formation ( Market Reversal ) Buyers should come one last time but with struggle and should test their recent high and then this trade will be ready.
In Scenario 2, If we get Lopsided Inverted V formation ( Market Reversal) Buyers needs to come with struggle but only towards the nearest support and resistance area then this trade will be ready to go down.
Looking at the daily structure, we had a fresh strong move down after a very long bullish trend.
When we made a strong move down making a Lower Low it is the very first leg down from the sellers with a strong momentum.
On 4h chart, we have 2 sets of pullback (which generally we need) and after the 2 sets of pullbacks, the last push from the buyers from very struggling and right after we reacted from Strong Support and Resistance Area market has reversed, Sellers are coming in with decent momentum.
In Scenario 1, I prefer that after creating Inverted V formation ( Market Reversal ) Buyers should come one last time but with struggle and should test their recent high and then this trade will be ready.
In Scenario 2, If we get Lopsided Inverted V formation ( Market Reversal) Buyers needs to come with struggle but only towards the nearest support and resistance area then this trade will be ready to go down.
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