NZDCAD | Short H4 | Market Exec | Pure Retracement Play

Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on H4 and H1 time-frame. D1 is also entering Overbought Conditions.
- Price action is close to last month's Resistance Trendline
- Price action is in a consolidation zone
- Targeting the 61.8% Fibo retracement

Suggested Trade:
Entry @ Area of Interest 0.8210 - 0.8230
SL @ 0.8244
TP 1 @ 0.8184 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8151
Risk-to-Reward @ Approx. 2.04 (Depending on Entry Level)

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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.

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Comment:

SL was hit, but reentering the trade again with the same SL.

Trade closed: stop reached