BULLISH on NZDCAD
Entry: .8607
SL: .8575
TP: OPEN (Will be trailing SL)
Technicals: Strong Uptrend on the DAILY chart and WEEKLY. Going down to the 4H TF, we see a bounce off major support which is also on the 21 EMA.
Fundamentals: Scoring high on the COT data. Retail sentiment showing strong bias to the short side. Retail traders are 70% short. As mentioned previously, often time when retail traders favor one side by over 60%, statistically the pair will move the opposite side.
SL: .8575
TP: OPEN (Will be trailing SL)
Technicals: Strong Uptrend on the DAILY chart and WEEKLY. Going down to the 4H TF, we see a bounce off major support which is also on the 21 EMA.
Fundamentals: Scoring high on the COT data. Retail sentiment showing strong bias to the short side. Retail traders are 70% short. As mentioned previously, often time when retail traders favor one side by over 60%, statistically the pair will move the opposite side.
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