This will be the 4th time bouncing off the trend line boldly. Retail longs are about to be taken out, expecting a sharp move down. Being that its NFP today I will be risking much lower than usual, until I see it follows direction, thereafter I will add to it. As always keeping it simple.
This is a long trade on teh NZDCAD pair. Daily is in an uptrend and respecting the trend-line (that I drew on the daily chart). Also this is supported by a strong horizontal S/R line which it is now testing from the upside.
Daily has printed a bullish engulfing candle and if it stays like this at the end of today's daily candle close then this would be a valid ...
Triple hit on trend line, RSI over brought and diversion. Also lines up perfectly with fib at 0.786 level. Great opportunity I would even eat my own shit if this goes long. Don't miss out!
Please comment and let me know your views.
Hi, As you can see there is a strong level which is a good level & probably would make a retracement for the price
we need to see the first rejection then we have a good opportunity to get a trade
Good luck :)