NZDCAD Short
NZDCAD - We have been in a 1Y downtrend and in a 6-month uptrend. We are just starting to break this CTL (counter trend line) so we are hoping for a swing trade and will obviously day trade this too. Expect entry into this trade some time today.
Analysis - We can see how price is breaking the 6-month uptrend using our trend lines to add to this we are now trading below the 50, 100 and 200 EMA on the 4H timeframe, trading below the 50 and 100 on the daily timeframe but as you can imagine they are obviously going to react slower then 4H timeframe. We don't have any solid patterns forming support and resistance, trend lines, price action and MA’s is all the analysis we can do on this. And they all tick the boxes for a change in trend to the downside. This could be a lovely swing trade that we can catch.
Conclusion - We are in the middle of an impulse just waiting for a correction/pullback before we enter. perfect entry is what we need.
Analysis - We can see how price is breaking the 6-month uptrend using our trend lines to add to this we are now trading below the 50, 100 and 200 EMA on the 4H timeframe, trading below the 50 and 100 on the daily timeframe but as you can imagine they are obviously going to react slower then 4H timeframe. We don't have any solid patterns forming support and resistance, trend lines, price action and MA’s is all the analysis we can do on this. And they all tick the boxes for a change in trend to the downside. This could be a lovely swing trade that we can catch.
Conclusion - We are in the middle of an impulse just waiting for a correction/pullback before we enter. perfect entry is what we need.
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