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NZDCAD Midterm Trade Idea Bullish Shark Pattern Update 100 Pips

A midterm trade setup

NZDCAD Midterm Trade Idea Bullish Shark Pattern

CHART TIMEFRAME: H4

PATTERN: BULLISH SHARK

PREDICTED PRICE ACTION: NZDCAD is consolidating in a narrow range. Breakout of 0.94300 will lead the price 0.93800 and 0.93400. At 0.93400 we will close the short positions and wait for the breakout of the Fractal 0.93250.Since it is a midterm trade we will update the trade idea later.  We predict the pair to complete Bearish Shark  @ 0.92160

Our first trade will be as follows:

TRADE: SHORT

AREA OF ENTRY: 0.94300

STOP LOSS: 1.94750

TAKE PROFIT 1: 0.93800

TAKE PROFIT 2: 0.93400

UPDATE: SHORT TRADE REACHED  THE TARGETS 100 PIPS.

WE WILL LOOK FOR A LONG OPPORTUNITY AT D 0.92400 – 0.92300

STOP : 0.91800

TARGET: 0.93000

GOOD LUCK

 

IMPORTANT: Patience and Money Management are key to success in trading.  Your risk ( Stop Loss ) must be maximum 1%.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

 

 

 

CHARTREADERPRO INTRADAY SIGNALS
NZDAD Midterm Trade Idea:  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
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