mominmechan

NZDCAD - Getting ready to make downward move?

Short
OANDA:NZDCAD   NZD/CAD
NZDCAD - A harmonic reversal pattern is being formed with the defined potential reversal zone (PRZ), It will most likely test the PRZ and make a downward move. A bearish RSI divergence is also supporting this idea. Sell stop entry can be taken at the breakout of previous Higher Low with TP set at a 1:1.3 Risk Reward, which is coinciding with a strong demand zone.
Trade closed: target reached
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.