NZD/CAD trendline reversal update with a new short setup
- NZD/CAD failed to broke trendline on the D timeframe and we saw weakness in the pullish movement.
- We took this trade with market logic as we saw price is at a swing point (trendline - zone area).
- Price already broke our last trendline on the correction move and we predicted the bearish movement also the breakout before it happens.
- Price now hit our first target and already broke the last major support nearly at 0.85800.
- We can wait for a correction to 0.85800 and then if we have a candlestick psychology confirmation we may put another setup at 0.83000 to catch 280 pips.
- We took this trade with market logic as we saw price is at a swing point (trendline - zone area).
- Price already broke our last trendline on the correction move and we predicted the bearish movement also the breakout before it happens.
- Price now hit our first target and already broke the last major support nearly at 0.85800.
- We can wait for a correction to 0.85800 and then if we have a candlestick psychology confirmation we may put another setup at 0.83000 to catch 280 pips.