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NZDCADANALYSIS

NZDCAD sell on H5Plan : trendline breakdown --> wait for prices to bounce off trendline resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
2
Nzd/Cad (A Candle By Candle Analysis)Here im looking at the last 3 daily candles to get a story about what was happening and the mistake I made by entering early! So as you can see , price actually did find resistance , then created a doji at resistance the next day .... AND STARTED TO MOVE DOWN tricking me into entering the sell! The problem was that I was reading into the news data for Friday Wrong ... thinking news would help push this pair down (Along with Gbp/Cad) and I entered early during NFP that pushed me into the negative!!!!! However... The Analysis still stands and Im ignoring the last 2 daily Candles because of news... This is a sell! (See The Montly Chart in my other Idea) I was lucky because I used a small enough lot size to where I could withstand this move up against me!!!! So in this trade .... I entered at resistance as price began to move down... It seems that I did everything right... But my problem here was trying to enter this trade before the big news friday! This is a mistake I will learn from in the future and you should too!!!! From now on , when price reaches daily resistance and begins to fall..... WE MUST SEE IF BIG NEWS COULD BE RELEASED THAT COULD PUSH THE TRADE THE OTHER WAY!!!!!! Anyway... im still holding in the negative and I hope that someone learns from my mistakes and this chart!!!! P.S. I made a mistake by saying price made it to the 200 day moving average on Dec 19. I meant to say that price made it to the 200 on December 5th!!!!!
Short
by RlcTrading
15