NZDCAD | GWAVES DETECTED | TARGET AREA DEFINED

Hello Traders,

A Gwave has been detected in NZDCAD. Based on the magnitude and force of the Gwave the final destination is highlighted in green. I have also highlighted important levels of Support and Resistance using the Gwave model. The soonest we will hit the Target area will be around June 8th. Pay attention to how price responds to the levels highlighted in this chart.

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Best,
Sirak
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Note

NZDCAD broke below the Key Level and quickly broke back above. At market close it tested the level and stayed just above it. However, the force of the Gwave will continue to push the market lower, eventually to its target area.

Have a great weekend.

Sirak

Note

Update: Key level broken.

Let me also make note that using traditional support and resistance would not define the level as I have in this chart. GWAVES WORK!!

Note

Zooming in, you can see the market is testing the resistance level it just broke. Again I want to emphasize that these levels cannot be defined using traditional methods of trading.

Note

Update: Price heeds towards previous support level, now strong resistance level.

Note

Update: NZDCAD is at a crossroads

Price must break red line in order to continue forward. At this point since we failed to make new lows. I would be weary to be in a short trade.

Best,
Sirak Babayan

Note

Update: Price REJECTED off of hidden resistance level defined by Gwaves. Targets still in tact.

GWaves

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GWaves