NZD/CAD SHORT Trade Call :
On Daily Time Frame, Bearish Trend is establishing after following Harmonic Bearish Butterfly Reversal Pattern.
Take SHORT Trade and set TP as per Support Zone 1 and Support Zone 2.
If one wants to go by Fib Retracement, then Fib 0.382 and Fib 0.618 should be TPs.
Stop Loss should be 0.85308.
On Daily Time Frame, Bearish Trend is establishing after following Harmonic Bearish Butterfly Reversal Pattern.
Take SHORT Trade and set TP as per Support Zone 1 and Support Zone 2.
If one wants to go by Fib Retracement, then Fib 0.382 and Fib 0.618 should be TPs.
Stop Loss should be 0.85308.
Note
Correction: Stop Loss should be 0.85230Note
I am using Heikin Ashi candles to reduce noise or one may say to avoid misinterpretation of trend. Therefore, my readers and followers should know that Heikin Ashi is just for trading the trends. However, if someone is using candle sticks for taking trades - like scalping on 1 m or 5m time frame, then he should use normal Candle sticks.
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.
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.