NZDCAD - A Bull Trap after a Bear Trap?
Updated
NZDCAD continues its bullish run and is entering into the Parabolic trend zone.
There have been signs of bearish momentum divergences on the indicators which has led people into shorting prematurely and being caught in a bear trap.
Many short traders are watching in anticipation of a violent move to compensate for the continued fake-outs. It's proximity to the last pivot high could result in another move with either a bull trap or a breakout. Patience needed.
There have been signs of bearish momentum divergences on the indicators which has led people into shorting prematurely and being caught in a bear trap.
Many short traders are watching in anticipation of a violent move to compensate for the continued fake-outs. It's proximity to the last pivot high could result in another move with either a bull trap or a breakout. Patience needed.
Trade closed: target reached
Consolidation occurring on trendline
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