NZD/CAD LONG POSITION: Analysis - TREND IS YOUR FRIEND!

27 พ.ย. 2019

As you can see in the 1 hr time frame. There are clear higher highs and higher lows being formed. This is the movement I am expecting unless it does not continue this cycle. Keep a lookout for this huge indicator! I placed lines for the lower lows and lower highs. As of right now, this trend is bullish and is continuing its cycle. You can easily short this trend as well on the drops and BUY the ups. It is safer to just take a LONG position, in my opinion. Since it can just go straight up from here at any point in time.

The trend is your friend guys! If you plan to hold like me, please do not be scared of the drop unless it goes below the lower high that was created. If it closes below that lower high. Houston we have a problem. You should think about closing the position possibly but so far so good!

My SL is set at .8500 but I can easily move it up to the last lower high. My worst case is that it drops to .8500 and bounces right back upwards. I am prepared for the worst-case and gave myself the free margin for this. Please just compare your analysis and make your own decisions for your trading.

I share this analysis to hopefully give insight. Please leave a like, follow and comment. It is greatly appreciated! It also tells me that you all appreciate me posting and sharing.

HAPPY TRADING!