NZD/CAD seems to go for the third attempt to break the resistance. If this 5-0 pattern works as expected, it could be impulse to the trend continuation. There is also some sort of inverted Head 'n' Shoulders pattern, which is usually considered a continuation (or at least not a valid reversal pattern) pattern. 1st attempt - March 2014 2nd attempt - March...
A bearish bat pattern with an overbought RSI hope it will work out well :)
FX:NZDCAD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
Even if your entry is at market the risk/reward opportunity is fantastic. Ideally, we want it to test ~.9550 and take a low risk entry short position there. I think there is something brewing in the Canadian dollar, not just this particular cross..
1. There has been a strong upward move since September 2. Previous candle has shown bullish rejection at previous structure 3. 1:2 Risk / Reward ratio and more if price breaks resistence If price does not hold here, then high probability it will test 0.90 before upward continuation.
This range trade offers a very good risk-reward ratio. With target profits at around the critical pivot and support lines. The Pivot Indicator (Fibonacci) is set on a yearly timeframe.
FX:NZDCAD A copy of my previous published idea on FX:NZDUSD : BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Safe Trades; open.spotify.com
As you can see its around the area of the highest high since 2009, it has hit that area twice this year before falling massively, I believe this is a triple top forming now and will drop again massively.
NZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone. R/R = 1.44 ...
The Reserve Bank today reduced the Official Cash Rate (OCR) by 25 basis points to 2.5 percent. particularly in China. Combined with increases in the labour supply from strong net immigration, posting a financial stability risk. CPI inflation is below the 1 to 3 percent target range,
NzdCAD met a strong resistance level and I expect a sharp move down soon. Actually SL here may be moved much tighter than shown on the picture. As it is against trend trade with care.
The price is approaching with a strong momentum to the lowest Supply Level. It is a risky level for a Sell. But taking in consideration that it is also in correspondence of the head of the last large swings, I could chose to risk a trade there, considering also that the main trend in the higher time frame is bearish. Target in the Demand Level, so as it visible...
Hello traders, potential long setup with an ab=cd completing at the entry. also some fib conflunce at that area along wiht some structure . Cheers
The kiwi had a solid move against the dollar on Friday, gaining 1.14 percent. The move came as commodities rebounded, thus pushing up their respected commodity FX. This was a response to the weaker dollar, but commodities saw their sixth week of capital inflows as traders deem a more risk-on approach in the medium-term. The move into commodities has been the...