Nzdcadshort
NZDCAD SHORTTRADE: This is a swing short entry. I entered this trade a while ago, (look at my previous ideas), but exit it because I didn't had the balls to pull through. This is just another entry opportunity.
THE PROBLEM is because of many opinions it might play around. Therefore I will have a wide stop-loss above my resistance line to prevent getting kicked out.
EXECUTION: I entered a bit late, so the risk is higher.
MOTIVATION: Resist temptation to exit, be fearless and release emotion form trade.
NZDCAD Headed LowerOn the Daily,price broke below major support at 0.88049 and is set to test the 78.6% Fibonacci Retracement of the 0.86904-0.8913 price swing.We expect price to head lower towards the 0.86904 price level after clearing this level to challenge the 22nd May 2019 low.Further decline could take us to the 161.8% Fibonacci Extension of the aforementioned price move at 0.85490.
Stop loss should be placed a few ticks above 0.8913.
Trade Responsibly!