FX.co ★ Trading idea for the NZD/CAD pair

The NZD / CAD pair continues to show bullish dynamics, which increases the chances of deep pullbacks. Today, the pair has already reached the highs of last week, thereby creating good conditions for working a downward movement.

So, in accordance to grid trading, sell limits should be set from 0.91600 (last week's high) to higher price levels, at about 500-1,000 pips.

Then, if the first transaction results in a movement of over 1,000 pips, take profit. Otherwise, continue placing orders.

Of course, traders still need to be careful since this financial market is very precarious. But, it will give plenty of profit provided that you use the right approach.

Good luck!