The Nzd/Cad pair had broken the 200sma SurpriseBox on the 8 hour chart to the downside. Target was recent low 0.8030, Stop Loss 0.8175. Strong resistance encountered at the 0.8080 area. Bailed out at 0.8088 average with a minimal profit. Will seek better opportunities in the future. For example, the Eur/Usd seems to be preparing for a Head and Shoulders Pattern on the daily chart.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com
