See daily chart of NZDCAD below for the discussion that follows.
NZDCAD broke support out of a consolidation this past week. Before the consolidation, there was a nice uptrend in place, which looks like it wants to reverse. I would like to see price move a bit lower first (to better confirm the break of support), then a retest of resistance (prior support). Upon such a retest I will look for a short entry in terms of price action / candles as per my strategy.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.
Trading SOS SOS
