Hello Guys,
Let's break down EURNZD together...
On the monthly timeframe, we can see that the bullish rally is meant to continue as the retracement seems completed.
On the weekly timeframe, you will notice that price formed relatively equal highs (buy-side liquidity) which as you will know attracts price to sweep it. You will also notice that last week's candle depicts the continuation of the impulse leg.
On the daily chart, we have a W pattern that is currently trading at a supply level (this could give cause to the retracement). You will also notice the order block of the daily chart is the same as the weekly chart.
What next you may ask... I will be looking to capitalise on a short-term sell if I get an opportunity with my target to be the order block below... and I will monitor price once it enters the order block to go long.
I have 2 targets for my bullish trade... the first one (yellow line) was gotten on the weekly timeframe while the second one (red line) was gotten on the monthly timeframe.
Do you like the way I did this analysis?... should I continue in this form? let me know in the comment section.
See below for EURCAD analysis.
Follow for more updates like this so you don't miss out.
EURCAD ANALYSIS
Cheers,
Jabari
Let's break down EURNZD together...
On the monthly timeframe, we can see that the bullish rally is meant to continue as the retracement seems completed.
On the weekly timeframe, you will notice that price formed relatively equal highs (buy-side liquidity) which as you will know attracts price to sweep it. You will also notice that last week's candle depicts the continuation of the impulse leg.
On the daily chart, we have a W pattern that is currently trading at a supply level (this could give cause to the retracement). You will also notice the order block of the daily chart is the same as the weekly chart.
What next you may ask... I will be looking to capitalise on a short-term sell if I get an opportunity with my target to be the order block below... and I will monitor price once it enters the order block to go long.
I have 2 targets for my bullish trade... the first one (yellow line) was gotten on the weekly timeframe while the second one (red line) was gotten on the monthly timeframe.
Do you like the way I did this analysis?... should I continue in this form? let me know in the comment section.
See below for EURCAD analysis.
Follow for more updates like this so you don't miss out.
EURCAD ANALYSIS
Cheers,
Jabari
