Hey Traders,
Similar Idea as the NZD/CAD Trade, it is expected that price will reverse from our newly created demand zone the upcoming days and see higher prices soon. The analysis of this setup, starts at the weekly timeframe which shows a clean rejection of old demand and created a new fresh area of demand around the same prices. On the daily timeframe, price showed us a break of structure and is currently re-testing the initial price area where price started the full breakout.
With NZD/CAD we're still in a swing trade long and are waiting to scale-in to our position on the lower timeframes, such as the 1hour and 4hour chart. For NZD/CHF we're patiently waiting for bullish momentum to kick in before entering long, if bullish momentum is confirmed, several scale-in opportunities will be on watch.
For more updates check out our IG at @newcapitalfx
Best regards,
NCFX Team.
Similar Idea as the NZD/CAD Trade, it is expected that price will reverse from our newly created demand zone the upcoming days and see higher prices soon. The analysis of this setup, starts at the weekly timeframe which shows a clean rejection of old demand and created a new fresh area of demand around the same prices. On the daily timeframe, price showed us a break of structure and is currently re-testing the initial price area where price started the full breakout.
With NZD/CAD we're still in a swing trade long and are waiting to scale-in to our position on the lower timeframes, such as the 1hour and 4hour chart. For NZD/CHF we're patiently waiting for bullish momentum to kick in before entering long, if bullish momentum is confirmed, several scale-in opportunities will be on watch.
For more updates check out our IG at @newcapitalfx
Best regards,
NCFX Team.
Comment:
This one is still valid if price develops nicely on the 4hour timeframe, as mentioned before; we're patiently waiting for bullish momentum to kick in before entering long positions.