FullTimeTrader
Long

NZDCAD-expecting major reversal-diamond pattern on H4

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
366 2 11
My bias is long on all NZD pairs. This one is showing signs of trend change also.

We have a potential bullish gartley and fib overlapping on W1 chart
snapshot


Bullish divergence on D1 chart:
snapshot


A diamond pattern on this H4 chart, price is rejecting from the figure 0.8500 and the new rising trendline .

I like diamond patterns. I have succesfully traded it before:
EURCAD-waiting for a diamond to break


Best regards

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 80% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectfull and constructive ideas are welcome.
We all are here to share ideas, learn, have fun and improve our performance.




Hello, thanks for your comment, this idea is based mainly on trading the diamond, so im trading on H4 chart. The price has already broken the pattern and now is bouncing from the rising trendline and round number 0.855. You can trade also on higher timeframes.
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this is a good setup with good r/r I would wait to enter until after it breaks through the resistance that can be seen clearly on the 1D chart
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