Trading Idea NZD/CAD
On the NZD/CAD pair, the price has previously reacted to the psychological level of 0.8400.
Currently, after reaching this level, the price has made an impulsive move to the downside and formed a lower low on the 4-hour timeframe.
I expect the price to continue moving downward, with the take-profit level aligned with the Fibonacci levels.
For now, I’m simply waiting for a strong rejection before entering this trade. Until such a rejection occurs, this trade remains invalid
On the NZD/CAD pair, the price has previously reacted to the psychological level of 0.8400.
Currently, after reaching this level, the price has made an impulsive move to the downside and formed a lower low on the 4-hour timeframe.
I expect the price to continue moving downward, with the take-profit level aligned with the Fibonacci levels.
For now, I’m simply waiting for a strong rejection before entering this trade. Until such a rejection occurs, this trade remains invalid
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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.