After multiple rejections from .95 NZDCAD is creating lower highs and preparing to reverse. The Stochastics Momentum Index confirms upward momentum is weakening and turning downward.
If you are trading this pair be very careful if it breaks upward and make sure your stops are beyond resistance.
If you are trading this pair be very careful if it breaks upward and make sure your stops are beyond resistance.
Trade active:
Orders filled. I'm keeping a close eye on this one, it's possible it will break to the upside and start a monster rally instead.
Trade closed: stop reached:
I had a feeling it would do that, stop got tagged by NFP spike.
Comment:
Possible scalp to recoupe some, RSI is oversold on lower timeframes but make sure you wait for it to bounce up before trying