NZD/CAD Channel play
Updated
Even though NZD/CAD is in a Longterm bearish trend we are currently trading along the lower trendline and short term charts are overextended to the downside. Signifying a high potential for a quick bounce.
Stop will be with 1HR close under trendline (Will look for re-entry if happens)
Good risk to reward ration for a quick play leading into this afternoon.
Stop will be with 1HR close under trendline (Will look for re-entry if happens)
Good risk to reward ration for a quick play leading into this afternoon.
Trade active
Profit Goal Adjusted to 0.82546
Stop remains the same. Expecting a retest of short term support here soon. Once that happens I will readjust stop to profit / Break Even point
Trade closed manually
Trade closed at small profit after stop was moved slightly above entry. Will look for another entry either if we make a higher low on shorter time frames OR we progress closer to the bottom trendline again.
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