ForexFloorTrader

NZDCAD DAILY LONG TRADE UPDATE

Long
OANDA:NZDCAD   NZD/CAD
This trade setup was identified on November 23 and continues to move sideways. Price continues to reject higher prices as noted by the long upper candle shadows. I was taught in my formal trading training if price doesn't start to move in the expected direction after 3 to 4 days I should close out the trade as the probability increases that price could start to move in the opposite direction. I am now closing this trade with a small gain. I will now wait for another trade setup.
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