NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.88823, 0.89039, 0.89500.
Key Support Levels: 0.88345, 0.88046, 0.88000.
The price on the higher time frame found support around the 0.88343 CAD mark and left a fake breakout to the downside. The market has been lifted to the upside by the help of a double bottom formation. We expect a reversal and a move to the upside in the coming hours.
NZD/CAD Medium-Term Trend: Bullish
On the lower time frame, the price found buyers around the 61.80 % Fibonacci retracement level after managing to break the bearish channel to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profits.
Buy Limit Order @ 0.88359
TP 1 @ 0.88820
TP 2 @ 0.89039
Stop Loss @ 0.88128
Trade Safely 🙂
Why are you cancelling the trade now, and not wait for break on the resistance (trend)line?