NZDCAD - 4HR - Uptrend Continuation
I will keep the explanation short since my chart can't show exactly what I'd like it to.
Price has pushed to an extreme from the 4hr mean where reversals are much more likely.
The 365 Period MA on the 4hr is showing price above it, meaning I'll only go long.
Price has spiked through and pulled back against a Daily & Weekly Pivotal point.
At the time of entry on the 5Min, the price has not closed below either of the pivots.
If the 4hr candle closes above the pivot points the trade will remain open if it closes below the entry is scrapped, and I'll wait for lower prices.
Price has pushed to an extreme from the 4hr mean where reversals are much more likely.
The 365 Period MA on the 4hr is showing price above it, meaning I'll only go long.
Price has spiked through and pulled back against a Daily & Weekly Pivotal point.
At the time of entry on the 5Min, the price has not closed below either of the pivots.
If the 4hr candle closes above the pivot points the trade will remain open if it closes below the entry is scrapped, and I'll wait for lower prices.
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