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nadavhurwitz

NZD/CAD - Bearish Butterfly - Harmonic Patterns

Short
New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
nadavhurwitz Updated   
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Harmonic Patterns Technical Indicators Chart Patterns NZDCAD Bearish Butterfly macddivergence short
2
0
harmonicpatterns indicator chartpattern nzdcad bearishbutterfly macddivergence short
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!
Trade active:
Move Stop Loss to entry point
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