NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.89328, 0.89969, 0.90544.
Key Support Levels: 0.88505, 0.86915, 0.86367.
The price on the higher time frame failed to break a strong support level around the 0.86915 mark and posted a bullish engulfing pattern which led to a reversal and a move higher. The market is posting higher highs and lows and succeeded to break the daily resistance (now support) around the 0.88505 level.
NZD/CAD Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish flag formation where we expect a breakout to the upside. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the next key level.
Buy Limit Order @ 0.88894
TP 1 @ 0.89316
TP 2 @ 0.89969
Stop Loss @ 0.88755
Trade Safely 🙂
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Man, this would’ve been an awesome trade! Hit SL then went our way.
Makes you feel good about the analysis. I find this happens, and the other annoying thing that happens is just missing the entry by a few points.
….and that’s exactly what I say to myself. The fact that price kissed our SL then went our way confirms the analysis was right on point! Great job guys.
I feel you I happened to grab it this time and let it ride for 8.5%
Damn Zsolt, huge win!
Should we use it for mt4
I’m using admiral market. One minute after the signal was sent I couldn’t place it cause price was not accepted (Place order button get dis activated when I put price) I just buy instant market cause price where close to open price. Can you explain me how to do next time ?
Avatrade broker. (Not admiral market. Mistake)