NZDCAD Bullish Total Harmonic Pattern and Midterm Trade Setup
Pair / Instrument: NZDCAD
Time Frame: DAILY
The trend in the Timeframe: BEARISH
The trend in the Daily Chart: BEARISH
Description: We have Bullish Total 2 Harmonic Pattern formation on the DAILY CHART. Possible bullish retracement.Since the formation is on the daily chart we have 25 pips area of the entry.
Trade Based On: Bullish Total 2 Harmonic Pattern
Entry: 0.85690 – 0.85500
Stop Loss: 0.85000
Take Profit 1: 0.86200
Take Profit 2: 0.86700
Take profit 3: 0.87200
Update: TP21reached. Close 30% of your positions and move your SL to entry.
Update: TP2 Reached. 100 Pips. We close 50% of the remaining positions. Move SL to TP1.
You can view the trade idea: NZDCAD Trade Idea
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
Bullish Total 2 Harmonic Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility