ProFX_Strategist
Short

Longer-Term Downside Potential

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
38 0 3
5 months ago
Note(s):

Here is a very nice & interesting pair; which I will only be eyeing - (Short opportunities/signals only):

Other pairs, which are also inside my "hot-list" currently:

NZDCAD             (Short)

GBPNZD             (Long)

GBPUSD             (Long)

USDMXN             (Short)

EURMXN             (Short)

EURNZD             (Long)

AUDNZD             (Long)

*For each of the above pairs; I will be looking out strictly either for the Long or Short opportunities only (in the 5mins chart; I will get in once I received a signal & then be ready to secure the trade with BE-SL or TL-SL, & then just let the trade run; if I should get stopped-out; then I will keep on re-entering again & again on-signal-based).

Best regards.
5 months ago
Comment: Currently this pair is having a "buy signal" in the 5mins chart. I hope that in coming Monday, I will start to see a "Sell signal" (a convincing one to enter Short).

Best regards.
5 months ago
Comment: In case you are curious as to "what shall be a Sell signal?"

- The most "simple" method will be to use Heiken-Ashi Candlesticks; just lookout for a series of red-color candlesticks formation (in higher timeframes like the 1hr chart for example) - to have a conformation for a Short.

- Another method is to use ZigZags (indicator); I personally use a series of custom ZigZags that defines the primary wave & also the secondary waves; so if the primary wave is down, then I can wait for a secondary wave to form upwards - to Short a upwards pullback/retracement/correction; for the main trade down (the primary wave direction). The ZigZags (2 sets) must be customized/set correctly, appropriately, & accurately.

- Another option is to use moving average(s) (which must also be set correctly, appropriately, & accurately). I personally use my own custom moving averages (such as the Non lag Moving Average Version 6) on higher timeframes like the 1hr chart; together with the Heiken Ashi candlesticks if you need to.

Regards.
5 months ago
Comment: Forgot to mention above that my custom ZigZags works quite perfectly in the 5mins chart (zoomed all the way out); it is by far the best timeframe for a confirmation signal, for the pairs of ZigZags that I'm currently using, based on my experience.

Regards.
Aiming to be a "marksman" in scalping & "speculation". As retail traders, we are just "speculating" these markets-volatility in our retail-trading-platforms (E.g. we do not physically owned 100-Lots of Gold nor is storing a thousand-barrels of crude oil)
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