FX_IDC:NZDCAD   NEW ZEALAND DOLLAR / CANADIAN DOLLAR
Fresh demand zone ahead, possible retracement, long opportunity.

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is
Trade geschlossen: Ziel wurde erreicht
Great analysis!
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Tradewonk paul_lerit
@paul_lerit, Thank you!
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Awesome work as always. We're always grateful for this!
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@joficw, My pleasure
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Thanks for the idea analysis!
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Tradewonk nanebeznep
@nanebeznep, No problem!
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