Week of: 01/31/22 – 02/04/22
The World Wealth Gauge is continuing to show us bearish readings this week with most of the indicators flashing red.
And with that in mind, I am going to revisit the NZDCAD trade we saw last week.
What’s nice about this currency pair is they are correlated currencies and can be used as a safe-haven in times of uncertainty.
So, we’ve got an interesting trade where I’m looking to buy this currency pair around 0.8420 levels.
My target for this trade is around 0.8800 levels with a stop loss set at 0.8265.
We’re looking at a pretty good risk-to-reward ratio with this trade, with 375 pips of potential opportunity.
Check out this week’s top picks video for all the strategy details.
Today’s video also covers an update on how I’m looking to trade our stock positions in this market. I think the strength we’re seeing in the markets is absolutely a false move. And eventually, the economy will face the heat as easy money starts flowing out of the system.
To know more about my trade picks and views on the market, you can join me in my Money Flow Trading Room. It’s where I talk about the market and such strategies every week.