NZDCAD: Republishing Bump & Run Trade

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
683 14 11

Update: The break above 0.9350 invalidated the short.

I am republishing the trade idea i published earlier in March 21, the trade setup was a success as price started my anticipated Run phase, which i described the Bump and Run pattern in details in my previous post, check the link below for the pattern.

So what now? NZDCAD             just like NZDUSD             has drawn a bearish shooting star candle at a broken support , which reverses role now to a resistance, and therefore, i am looking to short the pair near 0.9350 with a stop loss a daily closing above 0.9350 and a target at 0.9175.

Good Luck for me, and you :)
Hey, say hello by joining me at :
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
Update: The break above 0.9350 invalidated the short.
+1 Reply
Are you still bearish on this pair?
Technician TradersClassroom
No now i am neutral. did u manage to get out of the short with profit ? price hit 0.9200 before rallying,
Technician Technician
Oh sorry it hit 0.9240
Yes. I closed out before the event risk. I dont usually like to gamble too much especially when I have profit. I have the live to fight another day mentality. Plus, I can always buy back in. I'll be interested to see where the NZD goes from here. It seemed overweight to begin with and the RBNZ didnt say anything about intervention but I think they hope the Kiwi devalues a bit.
Technician TradersClassroom
Good to hear that, they surprised markets by indicating no need to stop tightening, hinted more 50bps hike this year. looks like nothing would stop the pair for now.
Did you get filled? I front run this idea a little and put an entry at 9340. I think I got a great entry. You can see a candlestick hinting towards reversal.
manijeh.kazemi.33 TradersClassroom
Technician TradersClassroom
Not really, maybe i will get filled during the RBNZ rate decision, Good luck to you
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out