Potential Swing Trade with the New Year NZDCAD
I am net bear bias with NZD and looking for opportunities to short this pair after inauguration day.
Too early to call as PA hung on recent support resistance and break above that will mark so long scalping before shorting. Despite there being fundamental scenarios that will support this idea - too much uncertainty and not enough liquidity over festival season to warrant any entries.
So wait and see if PA retest bottom channel around EMA barriers.
Until then - sit back, relax and take a breathing and recharge for 2017.
Happy holidays
Too early to call as PA hung on recent support resistance and break above that will mark so long scalping before shorting. Despite there being fundamental scenarios that will support this idea - too much uncertainty and not enough liquidity over festival season to warrant any entries.
So wait and see if PA retest bottom channel around EMA barriers.
Until then - sit back, relax and take a breathing and recharge for 2017.
Happy holidays
Trade active:
Shifted SL to entry - risk is swap rate only. May adjust target to 0.9100
Comment:
Semi mindful of a right shoulder forming for potential S&H pattern... waiting