๐ Let's dive into this forex pair, NZDCAD, for trading in futures markets and conduct an analysis.
๐ฐ In the 4-hour timeframe, after losing support at 0.82951 and experiencing a downward movement, we've almost reached a point where we're pausing in terms of both time and price in this timeframe.
๐ The support we've formed in the 4-hour timeframe isn't a significant level in the market, and there's a possibility of losing it and reaching the daily support at 0.80975.
๐ซ Currently, my focus is on short positions in my strategy, and I don't have any immediate plans to open long positions before breaking the resistance line at 0.81889.
๐ฏ However, I aim to open short positions for the downward wave and the loss of support at 0.81502, preferably with a tight stop loss to reach my targets quickly.
๐ The range of 0.80975 serves as a good support level for price reversal and trend change, but until we reach there and don't initiate a trend change, our plan is to open short positions.
๐ผ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
๐ฐ In the 4-hour timeframe, after losing support at 0.82951 and experiencing a downward movement, we've almost reached a point where we're pausing in terms of both time and price in this timeframe.
๐ The support we've formed in the 4-hour timeframe isn't a significant level in the market, and there's a possibility of losing it and reaching the daily support at 0.80975.
๐ซ Currently, my focus is on short positions in my strategy, and I don't have any immediate plans to open long positions before breaking the resistance line at 0.81889.
๐ฏ However, I aim to open short positions for the downward wave and the loss of support at 0.81502, preferably with a tight stop loss to reach my targets quickly.
๐ The range of 0.80975 serves as a good support level for price reversal and trend change, but until we reach there and don't initiate a trend change, our plan is to open short positions.
๐ผ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
