NZDCAD weekly Time frame is at a major support, the Daily Time Frame formed a wedge pattern and now the market broke out of it with a full body candle, and the last candle toke out already some more highs, I believe this has a lot of potentials to go Bullish,
I see there is a past support to become future resistance in around 150 pips (see the green dotted line)
I will probably be taking profit at that area unless I see the market is still going strong with full body candles I might take it to the down trend line.
Reason For Entry:
1)Weekly Strong Resistance
2)Daily Wedge Breakout With Full Body Close
3) Market Already Making Higher Highs
I see there is a past support to become future resistance in around 150 pips (see the green dotted line)
I will probably be taking profit at that area unless I see the market is still going strong with full body candles I might take it to the down trend line.
Reason For Entry:
1)Weekly Strong Resistance
2)Daily Wedge Breakout With Full Body Close
3) Market Already Making Higher Highs
Trade closed manually:
Market formed a Bullish Engulfing Candle after Non Farm Payroll News was better then expected. Im Closing out with a 70 pip (points) profit in case the market wants to move back up
