The currency pair NZD/CAD has made a strong downward movement since the beginning of the Month and our showed today, that for this period it has passed almost 94% of the Monthly ATR (Average Monthly Movement for the last 6 Months). STS_RSI_MTF_Indicator shows Оversold condition of the large Timeframes: Daily-28, Weekly-20, Monthly-29.
Because of these arguments, we loaded our STS_Zig_Zag_Bot to open long positions on the M30 timeframe, on each candle in which we have a descending 12-period Zig Zag. The Bot opened 3 long positions and closed them in ascending 20-period Zig Zag. As we expect an upward movement, we will leave these settings to our Trading Robot to open new long trades.
STS_Zig_Zag_Bot is very suitable in situations like this. If the trend reverses, the Robot will play any correction of the Uptrend, if the market stays in the Range, we are still in the game with long positions only.
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