NZDCAD: New Selling Opportunities
The price reached the resistance area and bounced from it. We got the 1st selling opportunity based on the reversal signal. RSI and MACD confirm the price reversals as well as a possible downside movement.
The trading idea for this market is simple. We have to search for new sell signals starting from 0.88000 levels and below. For this, we can use reversal and breakout signals in different timeframes.
Stop orders must be placed above 0.88000 and the local swing highs. Profit targets can be placed at 0.86000 and 0.83000 support. Risk per trade must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The trading idea for this market is simple. We have to search for new sell signals starting from 0.88000 levels and below. For this, we can use reversal and breakout signals in different timeframes.
Stop orders must be placed above 0.88000 and the local swing highs. Profit targets can be placed at 0.86000 and 0.83000 support. Risk per trade must be no more than 1-2% from the trading capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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