NZDCAD LONG IDEA
The market had been making higher lows as indicated on the trend support (TL) so the bias has been on taking long trades.
After breaking the 0.901 resistance level we found next resistance at the 0.911 region and have been stuck in between that resistance and the 0.901 region level
Our CTL was broken and due to the indecision candles on the retest a long position was entered with the stop below the lows at the 0.901 area, optimistic about a break of the 0.911 area to create a higher high, have a good one.
After breaking the 0.901 resistance level we found next resistance at the 0.911 region and have been stuck in between that resistance and the 0.901 region level
Our CTL was broken and due to the indecision candles on the retest a long position was entered with the stop below the lows at the 0.901 area, optimistic about a break of the 0.911 area to create a higher high, have a good one.
Note
Should the 0.90000 region be taken out I'll be waiting for a bounce off the trend support line. :)Trade active
35 pips later, approaching the 0.911 area again, hoping for a break, moving SL to breakevenNote
closing half the position, leaving the other at breakevenTrade active
Currently floating in 50 pips, SL at breakeven, hopefully a daily close above 0.911 may happen today...Trade closed: stop reached
One half of the position was closed in 75 pips, the other half stopped out at breakeven
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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.