NZDCAD SHORT 1 HR BREAK AND RETEST TRADE SETUP
Updated
Hi everyone:
I see an opportunity to take NZDCAD short as daily chart formed a nice Head and Shoulder
Pattern, multiple bearish reversal candles formed.
1 HR chart broke down the support trend line, waiting for a retest @ 50 EMA, 0.38 fib
retracement, trend line, and pivot to take it short
Target 1: 0.9445 (2% Profit)
Target 2: 0.9300 (5.62% Profit)
Thank you for your support and feedback.
Trade: #15 (2017)
Date: 01/26/2017
Time: 02:00 GMT
I see an opportunity to take NZDCAD short as daily chart formed a nice Head and Shoulder
Pattern, multiple bearish reversal candles formed.
1 HR chart broke down the support trend line, waiting for a retest @ 50 EMA, 0.38 fib
retracement, trend line, and pivot to take it short
Target 1: 0.9445 (2% Profit)
Target 2: 0.9300 (5.62% Profit)
Thank you for your support and feedback.
Trade: #15 (2017)
Date: 01/26/2017
Time: 02:00 GMT
Note
Here are the daily and weekly charts:Trade closed manually
Result: Break-even.1 HR chart dropped down, gave me a nice 1 % profit, but then broke up resistance of 50 EMA, and main pivot. Manually exit the trade at break even entry price @ 0.9525.
Date: 01/27/2017
Time: 14:00 GMT
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