NZDCAD currently in a downwards channel and top channel is holding.
This pair will start to make its way back down towards the bottom of the channel.
Entry:
Wait for confirmation with a daily bear candle close under the up trend line.
Indicators:
1. Pair currently trading in downwards channel acting as resistance.
2. Historically this channel has held so expectation is downwards movement.
2. Weekly RSI overbought bulls are weakening.
TP levels at past support/pivot levels.
As this pair breaks the trendline, take small profits of 40-50 pip ranges as movement may be slow.
Otherwise this is a great trade for long term.
Good luck trading!
Charles V
CVFX Management
Trading made simple.
This pair will start to make its way back down towards the bottom of the channel.
Entry:
Wait for confirmation with a daily bear candle close under the up trend line.
Indicators:
1. Pair currently trading in downwards channel acting as resistance.
2. Historically this channel has held so expectation is downwards movement.
2. Weekly RSI overbought bulls are weakening.
TP levels at past support/pivot levels.
As this pair breaks the trendline, take small profits of 40-50 pip ranges as movement may be slow.
Otherwise this is a great trade for long term.
Good luck trading!
Charles V
CVFX Management
Trading made simple.
