NZD/CAD 15M – This market I am also looking to go short in this coming week, similarly to the XAU/USD setup we have seen price trade us into a higher timeframe Supply zone and price has since given us clear bearishness.
This suggests that enough Supply has been introduced to flip that Supply & Demand balance, meaning the correction into the Supply zone has finished and the next leg lower is inbound. Like with XAU, I have marked out a fractal Supply zone as an area we can look to sell from.
We want to see price trade us into this zone putting in that fractal correction, for price to penetrate, grab any remaining Supply and go on to provide us with the bearish structure we so desire.
In order for us to have the confirmation to enter we will be waiting for price to break structure to the downside after the penetration as this will confirm the end of the correction and the start of this next bearish leg.