Reply To: Do We Have a NZDCAD Bullish Reversal

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#8905
Brijes Patel
Participant

Hi Cristian/ fellow TLT traders,

I’d like to bounce my trade idea for this pair.

As I feel AUDCAD has a higher probability of reversing (due to the hard level of resistance vs the soft level of resistance), I went for the AUDCAD and did not place an order for NZDCAD. However, when I zoomed out of this chart I noticed that targeting the lower levels as a powerzone buy might be more appropriate – as this is a hard level of resistance which coincides with a 1.618FIB level and ABCD pattern (see attached). Therefore, whilst I have my AUDCAD trade in place, this provides a decent opportunity to trade this pair as well by simply waiting to tested a better probability level.

Would you have any further thoughts to this?

B

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