Stethostrade

BACK or BREAK? Good Opportunity for LONG!

Long
OANDA:NZDCAD   NZD/CAD
NZDCAD has remained bullish for a couple of weeks and if the dollar continues to depreciate,
I will be expecting the momentum continue to be the same in the long run.

On annual TF - price moves in the bullish cup and handle pattern
pending breakout of the monthly channel.

While on the daily TF, it moves in the expanding triangle.

Both of these, couple with other positive confluences, it will be good opportunity for long
with good risk reward ratio.

If the price break the key level/Stop out - I will be looking for SHORT, where price will be heading back
into the monthly channel with similiar good reward opportunity and smaller risk.

This is a long term idea.

All the best.
Trade active: I remove my SL to 0.8600

Comments

have you considered 8700 for long?
Reply
Stethostrade darthrosh
@darthrosh, agree. I considered that too. I will expand my SL. Thank you for the feedback.
Reply
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