NZD/CAD - Bearish Butterfly - Harmonic Patterns
NZDCAD Short Idea.Formation of a butterfly pattern with a tight convergence on the Potential Reversal Zone (PRZ) levels.
PRZ converges with a rising resistance line.
On a 4 hour chart we can see a large engulfing candle with a MACD Divergence.
Stop Loss at 1.41 XA
Take Profit 1 at 38.2 AD
Take Profit 2 at 61.8 AD
Happy Trading!
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Move Stop Loss to entry point
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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.