NZDCAD bearish continuation likely … the week of 05 Aug, 2024
First of all, if you expect that every trade will be a winner, please move on. Don’t even bother to read this analysis.
This pair has been mostly bearish since mid-June with a pullback during the last few days. In my opinion this pullback will soon end and if I see evidence of that I’ll be taking a short trade.
Note that the 38.2% retracement level and the 200 dma are already trying to contain the current up move. The bulls can still push through to the 50% or even the 61.80% levels, so I am going to be watching the PA closely. A momentum move above the 61.80% area will negate my analysis. Let’s see how this plays out.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
This pair has been mostly bearish since mid-June with a pullback during the last few days. In my opinion this pullback will soon end and if I see evidence of that I’ll be taking a short trade.
Note that the 38.2% retracement level and the 200 dma are already trying to contain the current up move. The bulls can still push through to the 50% or even the 61.80% levels, so I am going to be watching the PA closely. A momentum move above the 61.80% area will negate my analysis. Let’s see how this plays out.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
주문취소됨
Global sell off, stocks, US$, Commodities etc.This trade is cancelled.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.