NZDCAD SHORT 1 HR BREAK AND RETEST TRADE SETUP Short

New Zealand Dollar/Canadian DollarFXCM

Description

⋅ Jan 26, 2017 5:36 AM

Hi everyone:

I see an opportunity to take NZDCAD short as daily chart formed a nice Head and Shoulder
Pattern, multiple bearish reversal candles formed.

1 HR chart broke down the support trend line, waiting for a retest @ 50 EMA, 0.38 fib
retracement, trend line, and pivot to take it short

Target 1: 0.9445 (2% Profit)
Target 2: 0.9300 (5.62% Profit)

Thank you for your support and feedback.

Trade: #15 (2017)
Date: 01/26/2017
Time: 02:00 GMT

Comment

⋅ Jan 26, 2017 5:37 AM

Here are the daily and weekly charts:

Trade closed manually

⋅ Jan 27, 2017 5:44 PM

Result: Break-even.
1 HR chart dropped down, gave me a nice 1 % profit, but then broke up resistance of 50 EMA, and main pivot. Manually exit the trade at break even entry price @ 0.9525.

Date: 01/27/2017
Time: 14:00 GMT

Comments

No1_Playa

⋅ Jan 26, 2017 10:07 PM

Looking like it will hit the target. Thanks for always putting up all these free setups :)

jojofang0901

⋅ Jan 26, 2017 10:07 PM

@No1_Playa, No problem, anytime. I dont mind sharing what I know to everyone.