Technical Position Trade – NZD/CAD March 8 2015 (+397 pips potential)

NZD/CAD has formed a huge Bearish Candle Formation looking at the weekly charts at a massive ressistance point after trying already to break higher unsuccesfully for many times.

This might be the beginning of a bearish trend if best, or at least the beginning of a prolonged time of range bounding.

SHORT NZD/CAD

Entry Stop @ .9279

Stop/Loss .9465 (-186 pips)

Move Stop to Break Even @ 91.70

Target 1: .9028 (+251 pips)

Target 2: .8882 (+397 pips)

March82015NZDCAD

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