MY Practice Analyzation On NZD/CAD!

31. Okt. 2021

I am analyzing NZD/CAD trying to use confirmations i can remember for analysis to help me determine which way the trend wants to go . I come to conclusion even if im wrong it will better my analysis and help me figure out why and where i went wrong . Based off my Analysis I am predicting that the market may want to continue in the uptrend , what brought me to this conclusion is as of now NZD is STRONGER than CAD on currency strength meter , Price is still respecting the trendline , Bullish engulfing breaking out of counter trend on the 1HR TF while on the 15 min TF there is major bullish aggression in the same spot as the 1hr TF bullish engulfing , A second Bullish engulfing on the 3min TF , not too far from the first BULLISH engulfing (on the 1hr time frame) and a long bearish exhaustion near the trendline. This is why i think that the market wants to continue up because of all of these different kinds of bullish confirmations , now i am just waiting for the break out and if it break out i will then wait for the retest along with new HIGHS.