Wednesday, September 4, 2013

Trade Call: Buying NZDCAD Based on break of psychological resistance Update


The Trade Call from yesterday on the NZDCAD has pulled higher significantly though its yet to hit  our expected TP level, the trade is well over 80pips green at the moment. If our target is reached, the trade will close out on about 180pips. The trade initially drew some concerns from a few of my students in the Mentor group based on the candle close formation after the breakout candle, which seemed like a bullish rejection but the break was still in play and it is normal that a minor retracement follows a valid breakout.

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