Listen guys, this is a perfect opportunity to collect 200 pips.
The NZDUSD in a long term down trend. But it need to close below the short term upward trending channel. Yes, you can start selling below the channel but for safer entry would be below the 50 MA.
Therefore wait till the candle close below the red line (50 MA) to enter. Then follow the chart for TP1....
Guys/girls, What are we waiting for?
We are waiting for the orange color falling wedge to be broken.
It doesn't matter which direction it is. However there is more chance to continue this within the wedge for another couple of days till it comes to 35,000 -36,000.
Then it might break the wedge (Hopefully upwards but who knows?)
Anyway, I will wait till it...
It is inside a new channel. Wait till it to confirm its inside the new channel. Then go long. If it is a false breakout it will go back down to where it was. So be patient until it shows the correct direction. GL.
USDCAD has broken the 4 hr 200 EMA and the trendline in 4hr time frame. Now moving below the 200EMA.
It is a selling signal for me. Will sell till TP1 and TP2 (Max).
IMPORTANT: This is not a financial advice.