Rising Wedge on NZD/CAD (15 Minute)

3 giu 2019

I have detected through my analysis a SELL opportunity on the 15 minute chart for NZD/CAD. I have chosen to sell here as the market has been bouncing of the trend lines and could potentially fall to the bottom trend line. Furthermore, you can see that the market is going through a lot of consolidation in that region and therefore a SHORT would be appropriate. If the market breaks below the bottom trend line, then it will confirm that a pattern is being formed. As you can see a Rising Wedge is forming and therefore could result in a impulsive break towards the downside.

5 giu 2019

Trade chiuso manualmente

This position was closed manually as various indicators I had, signalled a potential trend reversal.