Three Rising Methods with Volume Confirmation: Short NZDCAD
Fundamentals:
Rising oil prices will contribute to strengthening the CAD, as it tends to fall in line with oil. What's more, Canada is experiencing economic growth overall.
Technicals:
The "Three Rising Methods" candle pattern on the daily chart comes with lower volume interest with each end of day daily sessions. On top of that, each session had wicks long enough to give extra weight to this selling pressure.
The days before this rising candles the selling pressure was great with a wide spread bar.
Conclusion:
Sell NZDUSD
Rising oil prices will contribute to strengthening the CAD, as it tends to fall in line with oil. What's more, Canada is experiencing economic growth overall.
Technicals:
The "Three Rising Methods" candle pattern on the daily chart comes with lower volume interest with each end of day daily sessions. On top of that, each session had wicks long enough to give extra weight to this selling pressure.
The days before this rising candles the selling pressure was great with a wide spread bar.
Conclusion:
Sell NZDUSD
Kommentera:
Kommentera:
** I meant.. sell NZDCAD. :)
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
