A bullish opportunity recently presented itself on the kiwi-loonie trading chart. This follows from the bullish engulfing candlestick pattern which printed just above the 0.79100 psychological level. A stop loss below the 0.79000 psychological level and a profit target anywhere between your entry and the swing high of 0.82534 could give you a reward-to-risk ratio as high as 7 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades.
NZDCAD
Rooting for you!
Your FX Plug
NZDCAD
Rooting for you!
Your FX Plug
Trade closed: stop reached:
Price crossed my stop loss and automatically took me out of the trade. I believe the loonie benefitted from the positive CPI m/m and Core CPI m/m values for the dollar. Nevertheless, trading continues...
