WEEKLY: Left Chart
NZDCAD is overall bearish however, it is approaching a strong support zone in green so we will be looking for buy setups on lower timeframes.
M30: Right Chart
Read next: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin | FXMAG.COM
NZDCAD is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, NZDCAD can still trade lower inside the support zone .
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
