NZDCAD - Long Idea

I see some reasons to long this pair:

- MACD divergence, especially on the 1 hour.

-I see price dropped after a news catalyst a couple days ago.

-RSI is hover in and at a "oversold" area.

-Market is developing a "tweezer bottom"

All this is lending to a high probability setup for the long 1% Risk, 2:1RR - Happy Trading!

Note

Nice trade we have here, I may add when the price relaxes and pulls back (technically a "throwback" when breaks to the upside)

Note

Is this ever slowing down? I have tried to trade a pullback a couple times and gotten burned...my long is winning. Impressive.

Trade closed: target reached

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Federal election tomorrow for the CAD, It was a nice trade and I have exited. I think this level is a nice spot to look for a short, but i will leave it alone for the news event potentially moving things. Great trade.

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I've gone short on this pair now, hedging to the downside but out of my long. That Federal Election concerned me for holding long, didn't really move things much however....I think that's called "Apathy"

Trade closed: target reached

Closed my short, and starting to look for a long.

MattArmstrong

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MattArmstrong