NZDCAD - looking for a short .. the week of 31 Oct 2022

This pair has been bearish since March, but more recently the bulls have been trying to gain control. The area around 0.7930 has resisted their moves for the past 2 days and IMO evidence of a bearish move in that zone would provide a nice trade opportunity. This may take a while to set up, so I will not be in a hurry, instead will watch price action on lower time frames such as H8, H12 for signs that bears are resuming control.

If this works out as per my expectation, we may have a 3-4R trade.

Always use sound money and risk management and stay patient in all your trades.
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Trade geschlossen: Stop wurde erreicht:

Stopped out