NZDCAD Completed Bearish Shark Pattern at 0.87950
Consolidation Period.Looking for the next direction.
On the Upside:
We see a Bearish Gartley pattern emerging on the smaller charts.
Bearish Three Drives would be completed at 0.88100
CAD GDP will be released today. A better than expected CAD CPI may send the price below 0.87500
It is likely to test 0.88000 before CAD CPI data.
So our trade setups ( Based on Better Than Expected CAD GDP scenario )
Entry: 0.87950 – 0.88050
Stop: Above 0.88200
Target1: 0.87550 / Reached
Stop: Above 0.87600
Setup and Chart to follow:
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
VERIFIED ACCOUNT AND SETUP RESULTS
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