NZDCAD also looking promising for shorts. We will need to wait for it to reach the purple box region which has been placed around the 0.86500 level, this also meets with the trend line as well as the 61.8% level giving us multiple confluence for this to be a level of interest.
However, we need to wait for further rejection of this zone, so multiple 4hr candle closures forming a spinning top or doji candle (like in the blue circle shown above). If this does become into fruition I will be taking shorts down to the -61.8% Fib level, taking partial profits at the 0% and the -20% to secure some profits.
185 PIP gain 4.5/1 RR
LIKE AND FOLLOW FOR MORE !!
However, we need to wait for further rejection of this zone, so multiple 4hr candle closures forming a spinning top or doji candle (like in the blue circle shown above). If this does become into fruition I will be taking shorts down to the -61.8% Fib level, taking partial profits at the 0% and the -20% to secure some profits.
185 PIP gain 4.5/1 RR
LIKE AND FOLLOW FOR MORE !!
Trade closed: target reached
Comment:
Entry missed by 30 PIPs, profit target hit either way
Comment:
135 pip gained