‼️ This is my perspective on NZDCAD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs. I want price to make a retracement to fill the imbalance lower and then to reject from bullish order block.
Fundamental news: On Wednesday will be released Cash Rate on NZD. As well on...
🕛 TOPDOWN Analysis - Navigating a Complex Market Structure
Overview: Monthly observations reveal a cautious market, with a bearish internal structure emerging after a previous corrective move. Weekly charts, however, present a conflicting scenario, showcasing a lower high and hints of bullish momentum. The confusion intensifies as prices linger around a crucial...
Yellow diamonds in the watch, this sh- cost a lot
Never send a b- your dot, that's how you get shot
I DM in Vanish Mode, I do that sh- a lot
Took her panties off and this b- thicker than a plot
NZDCAD is in strong bullish trend.
As the market is consistently printing new HHs and HLs.
currently the market is retracing a bit after last HH, which is very healthy retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could go for new HH.
What you guys think of this idea
NZDCAD is on an UPTREND in the 4HR timeframe.
It broke above the 0.81900 level, It may retrace to the 70.5% FIB level which is in line with the rising TREND LINE .
If these 3 confluences align, they would provide a sweet
BULLISH ENTRY at 0.81500
STOP LOSS @ 0.80950
TAKE PROFIT @ 0.82800
Following the wedge breakout on the Weekly and Daily timeframes, I think price action might tend to move towards the next weekly high and beyond.
This is only my opinion and not a financial advice to set up a trade or invest. Trading or investing without knowledge is highly risky.
The NZDCAD has been in a bearish trend since December 2022, forming a descending resistance trendline. The price is currently touching this resistance.
Possible Scenario 1: Breakout to the upside
If the price breaks above the resistance trendline, it could signal a reversal to the upside. This would be a bullish signal, and traders could look to buy NZDCAD.
Price is in a bullish trend as it has been breaking highs and respecting lows. It broke the previous high with momentum where it receded to consolidate and retrace gradually, forming liquidity in the process. Due to the nature of this break, price could use the latest strong low as liquidity to reach for a demand zone that was previously unmitigated before...
Is NZDCAD exhausting at highs?
As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern at resistance level and bearish divergence suggesting the sell pressure is about to start.
If the bears took control , the 1st target could be 0.8040 followed by 0.800.
What you guys think of it?