Hello Trading View! Hope you're all having a blessed weekend so far! Just wanted to come on here and post a potential opportunity I see on NZDCAD for this upcoming week or two. SO lets dive in!
When looking at price on the daily we can see overall structure is bullish/demand driven market with higher highs and higher lows being formed...with strong momentum from the buyer side in this market. This is a good sign that the market is being driven by demand of NZD vs CAD and gives us a potential opportunity for some upside from an zone of demand. I marked off the zone in blue on the charts so you guys can see the area I am looking to take swing trades long to the upside. NOW I am not necessarily aiming for the moon on this. But I think it will give a good opportunity to the upside for some potential good R:R (risk to reward) opportunities.
Keep an eye for how the sellers momentum is coming into this level of demand. Watch how the buyers start to react at demand and look for some potential opportunity to the upside to further levels of supply or resistance on this pair. The reason I am not looking for a home run on this trade is because there are some higher TF demand zones sitting lower for this currency so I am waiting to see if those zones want to come get filled or this could be a launching pad for prices to move higher if it is still a strong demand driven market. Let's see!!
Keep an eye out guys! Cheers! God Bless!
When looking at price on the daily we can see overall structure is bullish/demand driven market with higher highs and higher lows being formed...with strong momentum from the buyer side in this market. This is a good sign that the market is being driven by demand of NZD vs CAD and gives us a potential opportunity for some upside from an zone of demand. I marked off the zone in blue on the charts so you guys can see the area I am looking to take swing trades long to the upside. NOW I am not necessarily aiming for the moon on this. But I think it will give a good opportunity to the upside for some potential good R:R (risk to reward) opportunities.
Keep an eye for how the sellers momentum is coming into this level of demand. Watch how the buyers start to react at demand and look for some potential opportunity to the upside to further levels of supply or resistance on this pair. The reason I am not looking for a home run on this trade is because there are some higher TF demand zones sitting lower for this currency so I am waiting to see if those zones want to come get filled or this could be a launching pad for prices to move higher if it is still a strong demand driven market. Let's see!!
Keep an eye out guys! Cheers! God Bless!
Comment:
NZDCAD moving closer to zone! Keep eyes out! counter-trend opportunity don't shoot for the stars take the single on this!
Order cancelled:
Hit TP area without hitting entry zone...cheers!