Tradingwithtamil

NZDCAD: IS THE PULLBACK WILL HAPPEN?-BEARISH.

Short
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FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Hi fellows,

The NZDCAD pair Printing signals in the bear zone with the constant tone.

I'll be looking for price to hit a previous resistance now turned support on the 4 hr time scale.

From 0.91470, the price range moved in the sideways for a long-drawn span.

After that, the chart printed signals as a reversal pattern.

At 0.91053, the market awfully broke the trend as an impulse(shown in the graph).

After the price moved into this area, the price range got a chance for two probabilities.

By the impact of the trend broke out, signals have enough energy to travel as an impulse to the whole way down. I'll be looking for
bear candles. (shown in the graph)

Or else the signals may direct the correction to the top and build a solid base for an impulse (PULLBACK) to jump down (shown in the graph).

In case after the correction formation if the signals continued to progress in the bullish trade means, end the trade at 0.91916.

SIGNAL SPECIFICATION:

Pair: NZDCAD

Order: SELL

Entry: 0.90698

Pending entry: 0.91157

Take profit: 0.89296

Stop loss: 0.91916

Risk Vs Reward:1.15
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Note:
Trade signals would usually have a risk to reward ratio of 1:2.
It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allows you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

Note: Everything works with Best money management.

Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil
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Trade ist aktiv:
In a 4hr time scale, there is no conflict in the previous trend.

The chart keep printing signals on the bear area (30 pips down)

let the plan continue


Happy trading.
Trade ist aktiv:
The price range yet to hit the TP. 104 pips down.

As I mentioned, no conflict in the previous trend.

Instead of pullback, the chart printed signals as an impulse.

EYES ON CHART.

Trade geschlossen: Ziel wurde erreicht:
TARGET REACHED.144 PIPS DOWN (GREEN PIPS)


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