Supply and Demand: NZD/CAD Long
Updated
Re-entry Trade
Low risk applied
-Zone- Daily trend break made a supply zone
-Stacked with the weekly zone
-Limit order set at the valid 4hr Star Pattern
Why low risk?
-Aggressive entry
-Price still showing clear down trend at the 4hr,
-Respecting 50 EMA
Why entered?
-All confirmations aligned
-Valid zone, valid pattern, fresh zone.
-At the Daily Chart, price has been decelerating as it is approaching the zone.
Low risk applied
-Zone- Daily trend break made a supply zone
-Stacked with the weekly zone
-Limit order set at the valid 4hr Star Pattern
Why low risk?
-Aggressive entry
-Price still showing clear down trend at the 4hr,
-Respecting 50 EMA
Why entered?
-All confirmations aligned
-Valid zone, valid pattern, fresh zone.
-At the Daily Chart, price has been decelerating as it is approaching the zone.
Trade active
Trade closed manually
Price is still a few pips away before hitting the TP, but looking how the price is slowing its momentum and it's reaching the previous significant high from the daily and 4hr chart, I decided to close the trade with 1:2.8 RTrade closed: target reached
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