NZDCAD - Short off MA's
Updated
Looking at NZDCAD for a short here. Entered at 0.90687 with a stop above the swing on 1H chart at 0.9116. Targeting 0.89185, with TP1 at 0.9022.
Here's why I'm taking this trade....
Price is bouncing off the 50 period SMA on the 4h chart.
On the 1H chart, we can see price bouncing off the 200 period SMA.
Here's why I'm taking this trade....
Price is bouncing off the 50 period SMA on the 4h chart.
On the 1H chart, we can see price bouncing off the 200 period SMA.
Trade closed: target reached
Trade moving nicely. Closing half at 0.9005 and moving stop to entry.
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