On this pair we have a double bottom/messy inverted head and shoulders on D1. We also have a trend line break on H1 which is currently pulling back. I would like to see the pullback retest the trend line and reject it before a long entry. Also I would like to see either an engulfing candle or a reversal candle before an entry.
NzdCad has created a new low on the hourly with some room to go to the next support level, head and shoulders on the 5 min pullback and entry. Not the greatest setup and you can definitely play about with stops and targets on this setup.
Once H&S pattern is completed, expecting a 45pip bullish run to the peak of the pattern.
TP - 45 Pips
SL - 25 Pips
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