The pair is inside a large weekly corrective structure, we have seen 04 unsuccessful attempts to break above this structure previously and is looking like we once again are getting rejected, a confirmed break of the up trend would likely mean a good move to the downside in the short term and give an opportunity to go short.
Hello Traders, $NZDCAD is currently in a strong uptrend with no plans of reversing any time soon. However, looking at the overall structure, we can clearly see a Bearish Geo formation. To define points 5, 5', and 5" I always look for the completion of an AB=CD pattern. This is usually a good indicator or where price will reverse in the GEO'. The lines in red...
Considering a flat and then a move lower for wave D of the larger ending diagonal. Another high then a turn down. Or if the high is in, sell a correction.
Expecting a turn south here for three of C of the larger pattern. Abort above yesterday's high
Looks like an ending diagonal for the fifth and final wave. This would align with eur/cad and usd/cad which should have another move higher.
Si respeta los niveles semanales tendrá que bajar para retestear.
Price has now approached a strong resistance zone and is showing signs of stalling and i see the short opportunity here. I have entered according to the 4hr charts but will wait for the blue diagonal support line to be broken to add more positions. 1. Strong Resistance 2. RSI divergence 3. MACD4C divergence 4. 10 MA crossover TP1 @ 250 pips TP2 @ 450...
NZD/CAD has tested a strong Resistance zone at 0.9575 and reversed from that zone. Now i wait for a breakout to the downside and enter based on a breakout of a lower timeframe. The marked levels are support zones. I use these levels as my TP's. The SL should be above 0.958. Always follow your Plan, Daniel Likes and Comments would keep me motivated.
After multiple rejections from .95 NZDCAD is creating lower highs and preparing to reverse. The Stochastics Momentum Index confirms upward momentum is weakening and turning downward. If you are trading this pair be very careful if it breaks upward and make sure your stops are beyond resistance.
Potential for either Long or Short on NZD/CAD Pair. - CAD news (unemployment numbers and rate decision) will affect trend of this. - High chance of bounce from resistence area that has been tested about 4 times already. - Will take 1-2 weeks to play out and find a direction.
Nice, tight channel here on the 60. Just the way i likie em. Im expecting a breakout higher towards the upper boundary of the even larger channel in the play her. Possibly even a breakout from there as well, higher. Lets see how it unfolds. Enjoy
nzdcad I have not seen anything like it before i am expecting a big drop after rejection from top resistance( supply zone ) Reasons are simple as hell major supply zone market consolidation showing signs of fall to bottom Trade with care Regards MJ
Market has tested 4 times at this resistance level but the bulls cant go through. great opportunity for a short position with great risk/reward ratio. Can open trade now near fibonacci .618 level with a stop loss near big resistance level or wait for a 5th test on that level. If it breaks the resistance level wait for a retracement to get in long.
There is a simple reason to short nzdcad that it is on strong resistance and also rejection from resistance, We should wait for a nice pull back to short it, it has also generated short signal according to my knowledge and experience.