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:
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
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.