After getting rejected by the strong resistance at 0.88500 we can expect the price to go in a downward direction to touch the bullish trendline as drawn by me or the targets shown by the Fibonacci retracement only if today's candle ends up closing in the red.
And don't forget to apply a stop loss while trading, so keep an eye on the economic calendar because any...
High frames :
Monthly : Rejection from a major resistance, "W pattern formation"
Weekly : Massive sell-off reaction
Daily : Higher highs / Higher lows mechanism = False
Consolidation, "price moving sideways".
Sell continuation = Bearish flags / Triangles
Correction upwards occurs "most of the times" when there is a consolidation. "Take a look at my...
We see that NZD/CAD has been moving up an upward channel. With support from the cloud and trend lines. RSI flip upwards with MACD looking for a possible reversal upwards as well.
NZD had one of the best run in the last few weeks while we see CAD appreciating greatly after the slightly hawkish Interest rate news. A slight wane on...
take profit and stop loss on chart please if you will enter enter with wise money managment
reason to enter
1_ we have down wedge on 1h time frame
2_ we are close to 61 fibonacci correction from last up wave
3_we are already in up trend
i hope i help you a little
While NZD was very bearish last week, the trend has reversed for this week, hence I have take profit on all my NZD short positions, and I am looking to long on selective counters.
This counter looks like it is having a rebound, and I have entered a small long position yesterday.
Will be looking to see how much it can rebound.
Ncad appears to be producing a buy setup. The sell long term (on the weekly) is what you want. Cad is looking like it may retrace. Should Ncad continue to breakout and continue to produce buy setups we may get something that goes all the way up and breaks the high and possibly breaks trend line. Remember that it never reached. I believe it completed a corrective...
NZD/CAD found support at .8800 level, formed a base at support and is now rallying. Minor resistance at .8975 is next and price can follow through to the downward sloping upper trend line near .9100. Oil prices look they are prepared to slide this week hurting CAD strength as well.
Prices are below KUMO
Lagging span broke its own KUMO
Prices are below the trend lines
Resistance around 0.89700
I wouldn't trade if prices enter the red triangle (uncertainty)
Wait until the Lagging span crosses down the trend line before selling
1st target 0.86570
2nd target 0.86220
3rd target 0.85280
tight stop loss just above Tenkan Sen around...