NZDCAD: Crazy Trade against The Main Trend
I can offer you to look at a crazy trade, which is based on a bearish divergence. It gives us a trend reversal signal at 0.89500 resistance. The daily chart looks a little bit overbought, and it will be possible to see a correction movement to SMA100 and SMA200. Here we are talking about 0.86000 support as one of the profit targets for short trades.
Now, let's use the 4H chart where we have bearish signals from MACD and the price action at the resistance. If the price can't move above the resistance and breaks the local uptrend line, it will be a possible selling opportunity. Stop orders will be placed above the local swing high and the resistance level. The main 1st profit target can be at 0.88000 support and the 2nd target at 0.86000 support. We will have a short trade with the amazing risk/reward ratio which absolutely makes sense even we will trade against the main trend. Risk per trade must be no more than 1-2% from the deposit.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Now, let's use the 4H chart where we have bearish signals from MACD and the price action at the resistance. If the price can't move above the resistance and breaks the local uptrend line, it will be a possible selling opportunity. Stop orders will be placed above the local swing high and the resistance level. The main 1st profit target can be at 0.88000 support and the 2nd target at 0.86000 support. We will have a short trade with the amazing risk/reward ratio which absolutely makes sense even we will trade against the main trend. Risk per trade must be no more than 1-2% from the deposit.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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