NZD/CAD Potential 100 pips gain
In the 4hr TF:
1) Bullish kumo breakout
2) Stochastic shows overbought
3) Weak TK cross
In the daily TF:
1) Wide gap between TK lines
2) Flat kijun sen
3) Price below kumo
4) Bearish future kumo
5) Good risk to reward ratio
6) %K intersects %D from below
7) Stochastic divergence shows increased bullish momentum
8) Current Stochastic value = 61
Is this the end of the downward trend and the beginning of a bull's run? In 4hrs time, CAD CPI data would be released and could invalidate our trade idea. Nevertheless, it is probably worth a try due to the good RR.
TP = 0.9460
SL = 0.9275
1) Bullish kumo breakout
2) Stochastic shows overbought
3) Weak TK cross
In the daily TF:
1) Wide gap between TK lines
2) Flat kijun sen
3) Price below kumo
4) Bearish future kumo
5) Good risk to reward ratio
6) %K intersects %D from below
7) Stochastic divergence shows increased bullish momentum
8) Current Stochastic value = 61
Is this the end of the downward trend and the beginning of a bull's run? In 4hrs time, CAD CPI data would be released and could invalidate our trade idea. Nevertheless, it is probably worth a try due to the good RR.
TP = 0.9460
SL = 0.9275