NZDCAD - Beautiful trade for swing traders $$$
If you are able to hold a position during many weeks this trade is for you. NZDCAD is not very popular especially because of its lack of volatility and liquidity BUT sometimes once or twice a year there are very amazing opportunities to make some money with a very nice risk reward.
The pair is approaching a resistance which is a weekly downtrend line around 0.94-0.95. This point could be reached in the next weeks. At this point, it will be interesting to take a swing short (Very long term).
The first target would give 500 pips at 0.8850 on the support which is a weekly uptrend line. Partial profit should be take at this moment.
If there is a breakdown of the support a new target would be 0.8400 then 0.80 in extension.
The scenario would be invalidated above 0.9600.
The pair is approaching a resistance which is a weekly downtrend line around 0.94-0.95. This point could be reached in the next weeks. At this point, it will be interesting to take a swing short (Very long term).
The first target would give 500 pips at 0.8850 on the support which is a weekly uptrend line. Partial profit should be take at this moment.
If there is a breakdown of the support a new target would be 0.8400 then 0.80 in extension.
The scenario would be invalidated above 0.9600.
Commentaire:
Perfect !
