NZDCAD: Trade Opportunities from Resistance
The price reached a resistance zone at 0.88000 level. The price is forming a bearish daily candle, which will be able to confirm a reversal. RSI reached the overbought zone, and it will be able to give a solid bearish signal. The same goes for MACD histogram, which can support a possible downside movement.
If the price stays below the resistance, it will be a possible selling opportunity. Stop orders for short trades must be placed above the local swing high. Profit targets should be based on support levels. Search for exact entry points using the hourly timeframes. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price stays below the resistance, it will be a possible selling opportunity. Stop orders for short trades must be placed above the local swing high. Profit targets should be based on support levels. Search for exact entry points using the hourly timeframes. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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