NZDCAD Potential Uptrend Forming

Jan 26

NZDCAD

D1: Price bounced from daily support.


H1: Price break previous resistance and retesting it.


M5: retracement trend approaching H1 support zone and shows slow down sign. Wait for market structure shift and clear uptrend to enter long.


Entry: Once M5 confirm the rally, enter with TP ~0.82725, entry & SL will be determined by market structure.

If it plays out nicely in ~5-6h then we might have a position.

Jan 26

Note

Price is turning, waiting for more structured trend before enter.
Does not seems like price will reach target by EOD, let see how it will play out.

Jan 26

Order cancelled

Price runs deep into the zone, no clear direction. Just monitoring

Jan 29

Note

Price now has reversal signs, waiting for lower time frame trend confirmation.

Jan 30

Trade active

Trend established, trade open

Jan 31

Trade closed manually

Trend shifted, market structure H1 no longer favorable.

Price may still go up with lower chance.