Inability to break the at 0.89 on a second test.
Idea: Long NZD/CAD from the at 0.89000 in anticipation of a false breakout and a consecutive price increase.
Stop loss level: 0.87900
Exit plan: close the position before stop loss level should the price move and stay below the .
1) ambitious: 0.92300 (upper bound of the range)
2) conservative: 0.90900 (middle of the range)
However, the spike didn’t reach our stop loss and just confirmed the rejection of lower prices by the market.
The new stop loss is now well justified below the spike (still around 0.87900).
Waiting for the close of the day.
I'll keep the position as long as there is no further descent, anticipating that the price will return into the range. Otherwise, will close manually should the price move clearly lower.