Bullish | NZDCAD Long
Updated
Hi Traders,
Potential long setup on NZDCAD. Entry at 4HR support if price closes above the daily resistance, then retraces to the level. Target levels are the 0.328 fib level and neckline of M formation. Additional confluence is bullish divergence on the 4HR and 1HR timeframes. Let me know what you think in the comments.
Do your own trade analysis and use proper risk management.
Potential long setup on NZDCAD. Entry at 4HR support if price closes above the daily resistance, then retraces to the level. Target levels are the 0.328 fib level and neckline of M formation. Additional confluence is bullish divergence on the 4HR and 1HR timeframes. Let me know what you think in the comments.
Do your own trade analysis and use proper risk management.
Note
Price has not made a deep retracement but it has retrace to the 0.32 fib level on the last daily impulse so we can look for long opportunities from there.
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