NZDCAD - Rising Wedge
Updated
Price has correctibely reached the key level area and formed a rising wedge pattern.
Its has also formed a pattern- within- pattern of rising wedge formation even on a 15m TF to get a better entry with a higher risk to reward.
Forecasting it to go short to the minimum of TP -1 and the maximum of TP -2
Giving us a R:R of 4.11% in just 1 trade.
As the trade continues in our direction will be looking to scaling in to add in more profit %
Its has also formed a pattern- within- pattern of rising wedge formation even on a 15m TF to get a better entry with a higher risk to reward.
Forecasting it to go short to the minimum of TP -1 and the maximum of TP -2
Giving us a R:R of 4.11% in just 1 trade.
As the trade continues in our direction will be looking to scaling in to add in more profit %
Trade active
Price has impulsed away from my entry and already crossed 1% in profit. Hence moving to breakeven and letting the trade run risk free.I will be locking in profit for every 1% it moves in my forecasted direction
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