NZDCAD Swing Trade Idea (LONG)
Updated
NZD/CAD
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This past week, price experienced a heavy move into weekly and monthly demand. Since then, price has kept moving up. I see a reversal in trend and thus this bullish trend is definitely starting
Additionally, a Head and Shoulders pattern has been successfully formed and this gives us insight on how strong the move will be.
Note that this is a daily move so this move can carry us to the rest of the year.
A pullback to the previous swap zone should be enough for us to enter the trade.
R:R 1:8
SL ~40 pips
TP ~320 pips
This should be good because we are expecting CAD weakness in the coming months as well.
Take care beloved! Until next time.
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This past week, price experienced a heavy move into weekly and monthly demand. Since then, price has kept moving up. I see a reversal in trend and thus this bullish trend is definitely starting
Additionally, a Head and Shoulders pattern has been successfully formed and this gives us insight on how strong the move will be.
Note that this is a daily move so this move can carry us to the rest of the year.
A pullback to the previous swap zone should be enough for us to enter the trade.
R:R 1:8
SL ~40 pips
TP ~320 pips
This should be good because we are expecting CAD weakness in the coming months as well.
Take care beloved! Until next time.
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Note
40 pips away from our pending buy limit. Let's be patient!!Trade closed: stop reached
Stop loss of 30 pips was hit before taking off massively. Lost this one but we live to fight another day. If you took my cadjpy trade the same time, you would have made back your money!!
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