NZDCAD: Triple top and potential 12 month decline ahead
Actualizado
This chart is significantly interesting for a variety of reasons.
On a technical and fundamental basis I think we can expect NZDCAD to sell off in the intermediate to long term, and right here we have the perfect excuse to join in on this action as a position trade.
The entry is a discretionary entry, below the previous monthly close, in case next month, we stay under the monthly mode at 0.92063, which would confirm the 12 month decline and the target on chart.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
On a technical and fundamental basis I think we can expect NZDCAD to sell off in the intermediate to long term, and right here we have the perfect excuse to join in on this action as a position trade.
The entry is a discretionary entry, below the previous monthly close, in case next month, we stay under the monthly mode at 0.92063, which would confirm the 12 month decline and the target on chart.
Good luck if taking this trade.
Cheers,
Ivan Labrie.
Nota
En route, we have to be patient with this one.Nota
Possible to reenter or add to it.Nota
If march closes below the stop this downtrend is confirmed.Operación cerrada manualmente
Might be wise to close the short partially if you're in and move stop loss to entry.Operación cerrada manualmente
You can close and flip long to catch a retrace. Stops below 0.855Nota
cover*
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