NZD/CAD 23.11.2016 H4 chart.
Short term downtrend and correction to levels of resistance.
Price below diagonal resistance and zone of horizontal resistance.
Japanese candle sticks signal: Pin bar and price below its base for probable downward impulse
Technical indicators:
SMA50 crosses SMA200 from above (deatch corssing) - strong negative signal
CCI(50) below 0 - negative signal
SL 0.9570
Alternative scenario: If price goes above the resistances this will cancel the negative scenario.
Jr. Trader Nikolay Georgiev
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