Took this trade this and want to remember this set-up.
We have some indecision here and I am watching the 240 and 15 min to see if there is an entry to the south. Fundamentals favor the Aussie a bit.
Fundamentals seem to be strengthening for the Aussie while the Yen remains weak. The technicals show a consolidation for a move up. Once this confirms and moves to 81.00 I expect a retrace and maybe a move to 84. Watching for an entry on 15min now.
I actually had this similar trade a few weeks ago. You'll see linked chart.
This trade is setting up today. Watching for an entry
Landing on support on daily with confluence of support on 240, 200 ema
I'm watching the USD cross pairs to possibly ride the reversal.
I've been wait for a floor to establish so I could get excited again about crypto. Other major cryptos are showing the same formation. Be on the watch
I posted a larger (daily) chart showing a tremendous trend line down. Where the NZDCAD is now correlates to another drop down. 1st missed pivot is target 1.
NZD rallied last week but a few things are pointing to a bullish dollar this week. Technical and Funnymentals
I'm watching a couple trades that this could affect.
So I just posted the daily and it decided to move down sooner than I expected so it triggered me with a starter short position. It may retrace back to .9080 ish. If it does, I'll add at another break down when the retracement is finished. If it keeps going, I'll add if there is some consolidation somewhere. It may pause at .9000, but I expect this baby to trend...
With oil making a bottom and this being a good positive carry, I am looking to build a position going north. I have a small early position already and will be adding on a retrace. Start small with the right stop loss and add.
Looking at the daily chart this pair looks a little overdone to the south. What also makes this enticing is a positive carry at the start of a new year. I'll post a smaller time frame as an entry.
The green arrows are pivots I previously targeted when NZDCAD break down earlier. Now, we are sitting with resistance above, the large trendline, and a broken trendline on the hourly. I am watching for a break below .9270 to confirm a possible move south to cover the missed pivots below...
Textbook Head & Shoulders. Entry may be tricky because obvious stop could need to be far. Watching closely on 15min chart.
I'm not sure how anyone can be taking longs.. :) Unless of course you are a counter trend trader... Next stop 1.2400?