Hello Fellow Traders, Here is a Full Updated Analysis on NZDCAD 4hrs
Break down,
After the break of the head and shoulder figure, the price created a strong resistance zone found in the 0.92000 area tested 3 times creating a triple top showing some significant weaknesses from the buyers. We should expect a retrace to our previews support zone around 0.90000.
1. Wait for confirmation(Wait For Price Action Confirmation / Break of structure / Continuation of trend)
2. Confirmation from the MACD ( MACD crossing down )
3.Use Risk Management (Risk 2% of your capital / 1 to 3 )
4. COT data used
5. Fundamentals used
6. Entry on The 4H Timeframe!
Don't hesitate to leave your comment and support!
Best VFX_Trading
See You in the next Analysis!
Break down,
After the break of the head and shoulder figure, the price created a strong resistance zone found in the 0.92000 area tested 3 times creating a triple top showing some significant weaknesses from the buyers. We should expect a retrace to our previews support zone around 0.90000.
1. Wait for confirmation(Wait For Price Action Confirmation / Break of structure / Continuation of trend)
2. Confirmation from the MACD ( MACD crossing down )
3.Use Risk Management (Risk 2% of your capital / 1 to 3 )
4. COT data used
5. Fundamentals used
6. Entry on The 4H Timeframe!
Don't hesitate to leave your comment and support!
Best VFX_Trading
See You in the next Analysis!