Skydiving with Bears. NZD/CAD => short
I expect price to pull back at Resistance level and anticipate a Double Top which is the confirmation to short. If it moves above Resistance level, then look for price action to short.
I also estimated the Fibo-Retracement levels which form strong/key Support levels (especially Fibo 61,8 and 76,4). Strongly recommend Stop Loss to be above Resistance level but Take Profit is debatable in my opinion. Personaly i would go for Fibo 76,4 as Target, because if you go back in D-Chart you can identify it as a Strong Support level where prices in the range area have a hard time to break through.
I also estimated the Fibo-Retracement levels which form strong/key Support levels (especially Fibo 61,8 and 76,4). Strongly recommend Stop Loss to be above Resistance level but Take Profit is debatable in my opinion. Personaly i would go for Fibo 76,4 as Target, because if you go back in D-Chart you can identify it as a Strong Support level where prices in the range area have a hard time to break through.
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