Get started
The_Monk_Trader

NZDCAD SHORT for 230 - 1000 pips!

Short
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (FX_IDC:NZDCAD)  
The_Monk_Trader Updated   
FX_IDC:NZDCAD   NEW ZEALAND DOLLAR / CANADIAN DOLLAR
Trend Analysis swingtrade Trend Line Break trendcontinuation
5
3
trendanalysis swingtrade trendlinebreak trendcontinuation
NZDCAD

- NZDCAD is in a downward parallel channel and has hit the upper trendline a few times in the last weeks while showing some bearish candles.
- It just broke the trendline support showing that there is more downward trend continuation.

Shortterm target is the 0.618 fib retracement level @ 0.8900.
Longterm target is the 0.8070 support of the lower downward trendline and the 1.27 fib extension level.
Trade active:
For now this is working out fine. Down 80 pips already.

snapshot
Trade closed: target reached:
Target reached. Profit 200 pips
Trade closed: target reached:
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.