NZD/CAD 1D - This is another market I am looking to take long, I want to see price come back down, correct itself so we can look to get involved with a refined entry.
I was going to place longs now but I understand that our RR would not be so good and our position would not be very refined, this is why I am choosing to wait for price to correct itself taking us lower in order for us to get in, at a better price.
Once price trades down we are wanting to see the Demand Zone I have marked out to be cleared, for Demand to be introduced and this way we can look to get involved in the next big wave to the upside.
We have had multiple penetrations of demand Zones and price has respected all of them giving us the bullishness we want to see. Its important we are patient now and wait for price to play out.
I was going to place longs now but I understand that our RR would not be so good and our position would not be very refined, this is why I am choosing to wait for price to correct itself taking us lower in order for us to get in, at a better price.
Once price trades down we are wanting to see the Demand Zone I have marked out to be cleared, for Demand to be introduced and this way we can look to get involved in the next big wave to the upside.
We have had multiple penetrations of demand Zones and price has respected all of them giving us the bullishness we want to see. Its important we are patient now and wait for price to play out.