Jroge107
Short

NZDCAD: Risky At These Levels

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Quick setup could arise if NZDCAD heads down to one of those trendlines for a 3rd bounce and/or a final wave up. I see little opportunity to the upside if entering long in this area. However, I will not open a short in anticipation of a dip lower for liquidity as these moves sometimes randomly break up and continue making new highs. If price heads lower and stalls around one of those areas of interest, a long position can be opened w/ a relatively tight stop.
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