NZDCAD - Finally A Bullish Breakout!

Analysis:
Bullish Confluences

Longer term bearish trend broken
Recent strong bullish strength
Retesting an area of significance
38.2% fib retracement level lining up
Falling wedge pattern completed
The NZD is the 4th weakest major currency whereas the CAD is the 3rd weakest major currency
3K long position increase for the NZD
3K short position decrease for the NZD
2K long position decrease for the CAD
Recent CAD news has been bearish

Bearish Confluences

17K short position decrease for the CAD

Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!

Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

交易开始

Our entry criteria has been met and our order has been filled. We are long looking for price to continue making a move to the upside after we broke out of the previous bearish trend!

交易结束：到达目标

s3.tradingview.com/snapshots/m/mOAbAkO1.png
Trade Closed
(+1.18R) Made
After Trade Comments:
This was a nice quick trade that we were able to capitalise on this week. From the start things were looking good as we saw our support level hold strongly showing that the bulls are in control and then from there on price just continued making a move to the upside until we reached our take profit. Overall this was a great trade to catch and it's little wins like this which can add up very quickly. With that being said, onto the next!

Stay Safe - The JPI Team

jpeacockfx