I thought I give now an update how the trade is going. At the end I had to change my setup, I checked the charts and NZD did not give such a clear technical signal as CHF, so [I]I entered CAD/CHF insted of NZD/CAD[/I]:
[I]Currency: CAD/CHF long, Entry: 0.8245, Current result: +21 pips.[/I]
There was no main catalyst for CAD and CHF and slowly but steady it is going in my direction! We will see if there comes a story changing news or what the new COT report says.
I made a stupid mistake though. On Sunday night I thought I enter the market because Monday early I might not be at the computer and the pair can already go in my direction. First mistake was that I did not take into account that Monday is a national holiday in UK and US so there is no volatility. And even if I enter the market on Sunday I should have waited 1 hour more. I paid 10 pips spread instead of 4 pips… Well that is a 6 pips present for my broker. The upside is that there is a rollover in my favor which is always nice to have! So if I stay long in the trade it gives me some extra money.
I thought I give you also the current results what would have happened if I entered the two other interesting trades on Sunday night:
[I]NZD/CAD short: +61 pips (short at 0.9284)
GBP/USD short: +67 pips (short at 0.6831)
[/I]
The GBP/USD short I analysed on the weekend and is not in the above analysis. It seems to me though a very interesting pair. People are bullish on GBP and many are neutral (rather say slightly bearish or slightly bullish on USD), but as far I see the 1.6950 might be a major resistance and based on my analysis I am skeptical on the bulls power. The fundamentals do not yet confirm my story of going short on this pair but I see that in possibility in the cards.
It looks like all analysed trades are going in the right direction. A pitty is that exactly one is doing the weakest where I entered the position. Oh well, until it makes a profit, I guess everything is fine.