NZDCAD MARKET MONDAY EP 1
Trade (1)
Entry Type : Limit Buy @ 0.83600
Stop Loss : 0.83300
Take Profit : 0.85600
R/R : 6.77
R/R % : .5% / 3.8%
Technical Analysis:
Price Action has triple bottomed on the H8 time frame and has had a bullish push upward. The bullish push has ended and we have now seen the corrective cycle past the 50% Fibonacci level and edging toward the 61.8% Fibonacci level. This level is also a previous support level and I believe we will find support yet again. My stop loss is placed below the 71.0 Fibonacci level which coincides with a minor resistance turned support. My take profit level is placed slightly above the -27.2 Fibonacci extension .
Entry Type : Limit Buy @ 0.83600
Stop Loss : 0.83300
Take Profit : 0.85600
R/R : 6.77
R/R % : .5% / 3.8%
Technical Analysis:
Price Action has triple bottomed on the H8 time frame and has had a bullish push upward. The bullish push has ended and we have now seen the corrective cycle past the 50% Fibonacci level and edging toward the 61.8% Fibonacci level. This level is also a previous support level and I believe we will find support yet again. My stop loss is placed below the 71.0 Fibonacci level which coincides with a minor resistance turned support. My take profit level is placed slightly above the -27.2 Fibonacci extension .
Note
This trade has already been entered early on my end. That trade can be found on my page as well. This was simply the "Market Monday's" Outline.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.