CADNZD H4 LONG PRICE ACTION FORECAST

13. Juli 2020

From a higher time frame, specifically W1, the price action has reached the ascending channel's support line. The price structure should now continue to the upper-level resistance.

Now, diving into the price structure at H4 to get an entry-level, it is possible to realize that we need to wait for the breakout of the descending trendline before making any decision.

In case the breakout happens, a retest should mark the crucial and reliable entry point to capture the forthcoming bullishness with the pair.

The order:
Type: buy-limit
S/L: 61 pips - R:R | 1:3 -
T/P: resistance level


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