Looking at the trend to the downside. Flag patter could lead to a break of major support! Could be a big move! I’ll be looking for the breakout before entering.
I remember being told that a rule to never break is to never trade against the trend. Daily trend has rejected lower channel and the SR line is very close. H1 trend is also showing a lot of support. If there's strong confirmation, this could do well!
1st entry doing well and is now BE. Section of consolidation (i tihnk!) showing signs of continuation so hopefully have a confirmation for entry on the third touch of the trendline.
Good rejection candle of the Daily support line and the trend resistence area. pretty low risk this one as first TP is pretty close. If upper trend is broken, SL will move BE and let it run.
I haven't practiced technical trading for a while so thought i'd stretch my legs a bit.
Spotted a flag structure forming on NZDCAD when a breakout happened. After drawing a lower trendline, i waiting for a break and retest with a Doji candle for entry on H1. TP1 i feel will be around 0.8585 ... if it gets that far of course.
