Hi traders,
The pair NZDCAD approaching a definitive bearish zone with a breakout and yet to form an impulse.
And I believe that the breakout point must be the good selling point for a nice profit count.
Presently, the market printing the price range at 0.89535. For this pair, it was the previous trend resistance point that’s why the price got stuck here for a period of time.
So, I’m expecting the chart will print the candles in a downward direction. If it breaks trend mean, the fall will be very aggressive.
The fall may up-to 0.88409.
In this case, most of the time the price range don't exit the previous resistance point if accidentally the chart starts to print signals in bull area means, end the trade at 0.90016.
SIGNAL SPECIFICATION:
Pair: NZDCAD
Order: SELL
Entry: 0.89535
Take profit:0.88409
Stop loss: 0.90016
Risk Vs Reward: 2.34
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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.
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Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.
Best
Forextamil
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