NZDCAD Double Scenario
H4 - Price broke above 0.8930. Second leg of the double wave is around the 100 fibo level, we may expect a bearish reversal to happen here or from the 161.8 fibo level.
Once the reversal happens we may expect the price to move lower until it reaches the 38.2% retrace of this double cycle and then we can go long with the breakout of the most recent trend line.
On the short term we can look for sells and on the long term we can look for buys.
You can use any setup and strategy that you have in your arsenal to look for bullish and bearish moves and join this short term sell trade and long term buy trade.
Once the reversal happens we may expect the price to move lower until it reaches the 38.2% retrace of this double cycle and then we can go long with the breakout of the most recent trend line.
On the short term we can look for sells and on the long term we can look for buys.
You can use any setup and strategy that you have in your arsenal to look for bullish and bearish moves and join this short term sell trade and long term buy trade.
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