NZD announced rate hike in week 24.
NZD should be bullish. However I seem to have detected a possible weakening of NZD.
After using the triggerpoint system, it was possible that I could be trading a particular currency and its crosses in turns.
NZDCAD fell on friday.
Earlier, on Thursday night, I made a decision to trade big on NZDCAD. However I had omitted a decision to use a 1234 to get in.
On friday , i decided to cut my longs and went short as i saw a setup with 5 criteria met.
My bad long which was on done a bad decision. exited on a good decision
shows a similar channel setting up.
shows a channel, poised for correction.
shows a consolidation which may be unconducive for furuthr downmove.
this chart shows a channel forming with serious macd divergence.
also happen to be near d1 tx BB
w1 Flying buddha shows mean reversion imminent.
A confluence of charts suggests NZD is due for a correction. I have profited from NZDCAD already.