FX:NZDCAD   New Zealand Dollar/Canadian Dollar
The price is following a falling flag/ channel according to higher timeframes (Weekly), it has reached the lowest trendline of the channel. It has broken out thus forming a bear trap.

According to the lower timeframe (1H, 15 minutes), an ascending triangle is formed which might be a big indicator of a bullish trend.

Let us wait for the price to break out of the resistance zone formed and now look at the long term strategy of the price.

Entry @ 0.787 Target @ 0.796, SL @ 0.784

R:R 1 : 3

Remember, risk 1 - 2 % of the account.






Penafian

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