Here is a very nice & interesting pair; which I will only be eyeing - (Short opportunities/signals only):
Other pairs, which are also inside my "hot-list" currently:
NZDCAD (Short)
GBPNZD (Long)
GBPUSD (Long)
USDMXN (Short)
EURMXN (Short)
EURNZD (Long)
AUDNZD (Long)
*For each of the above pairs; I will be looking out strictly either for the Long or Short opportunities only (in the 5mins chart; I will get in once I received a signal & then be ready to secure the trade with BE-SL or TL-SL, & then just let the trade run; if I should get stopped-out; then I will keep on re-entering again & again on-signal-based).
Best regards.
Komen
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Currently this pair is having a "buy signal" in the 5mins chart. I hope that in coming Monday, I will start to see a "Sell signal" (a convincing one to enter Short).
Best regards.
Komen
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In case you are curious as to "what shall be a Sell signal?"
- The most "simple" method will be to use Heiken-Ashi Candlesticks; just lookout for a series of red-color candlesticks formation (in higher timeframes like the 1hr chart for example) - to have a conformation for a Short.
- Another method is to use ZigZags (indicator); I personally use a series of custom ZigZags that defines the primary wave & also the secondary waves; so if the primary wave is down, then I can wait for a secondary wave to form upwards - to Short a upwards pullback/retracement/correction; for the main trade down (the primary wave direction). The ZigZags (2 sets) must be customized/set correctly, appropriately, & accurately.
- Another option is to use moving average(s) (which must also be set correctly, appropriately, & accurately). I personally use my own custom moving averages (such as the Non lag Moving Average Version 6) on higher timeframes like the 1hr chart; together with the Heiken Ashi candlesticks if you need to.
Regards.
Komen
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Forgot to mention above that my custom ZigZags works quite perfectly in the 5mins chart (zoomed all the way out); it is by far the best timeframe for a confirmation signal, for the pairs of ZigZags that I'm currently using, based on my experience.