Lingrid | NZDCAD short from STRONG resistance zone

8月31日

The market has reached a significant resistance level on the daily timeframe, specifically at the area where a sharp bearish move occurred two months ago. The price action is currently creating a broadening triangle pattern, which can indicate a loss of momentum and increased volatility. Considering these factors, I anticipate a pullback toward the support level, especially in light of the divergence observed in the price action. Additionally, the psychological level at 0.85000 adds weight to the potential for a retracement as we might look to take profits or reassess positions around this key area. My target is support level at 0.83700


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻