Tradingwithtamil

NZDCAD:Breakout point always good for make a trade-BEARISH.

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Hi traders,

The pair NZDCAD approaching a definitive bearish zone with a breakout and yet to form an impulse.

And I believe that the breakout point must be the good selling point for a nice profit count.

Presently, the market printing the price range at 0.89535. For this pair, it was the previous trend resistance point that’s why the price got stuck here for a period of time.

So, I’m expecting the chart will print the candles in a downward direction. If it breaks trend mean, the fall will be very aggressive.

The fall may up-to 0.88409.

In this case, most of the time the price range don't exit the previous resistance point if accidentally the chart starts to print signals in bull area means, end the trade at 0.90016.

SIGNAL SPECIFICATION:

Pair: NZDCAD

Order: SELL

Entry: 0.89535

Take profit:0.88409

Stop loss: 0.90016

Risk Vs Reward: 2.34

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4. Risk vs Reward up to 1:7.
Note:
Trade signals would usually have a risk to reward ratio of 1:2.
It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allows you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

Note: Everything works with Best money management.

Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil
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follow our updates for more profitable trades.
Trade active: The chart broke the trend and entered in bear zone. 20 pips down.

Stay in a positive lane and make your move.

Trade closed: target reached: Breakout formation pulled the price range to the predicted level.

113 green pips. HAPPY TRADING.