Analysis
1. Bullish pinbar reversal closed on daily at support.
2. Price at bottom of descending channel
3. NZDCAD at yearly highs.
4. Descending wedge ( bullish ) within channel
5. All oscillating indicators are in oversold territory. ( Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions )
Trigger
Set pending sell stops on the break of the pinbar candle's highs.
Trade
Set stops below the lows of the pinbar and targets around 0.865 since price has a chance to stall at that level. Monitor lower time frames and see if momentum warrants extending targets.
1. Bullish pinbar reversal closed on daily at support.
2. Price at bottom of descending channel
3. NZDCAD at yearly highs.
4. Descending wedge ( bullish ) within channel
5. All oscillating indicators are in oversold territory. ( Candlestick patterns or price always precedes the curl back of oscillators from overbought or oversold conditions to normal conditions )
Trigger
Set pending sell stops on the break of the pinbar candle's highs.
Trade
Set stops below the lows of the pinbar and targets around 0.865 since price has a chance to stall at that level. Monitor lower time frames and see if momentum warrants extending targets.
Order cancelled:
TRADE CANCELLED, do not enter.