On NZDCAD we have an awesome bearish setup. The price is heading towards the 14 and 72 EMA and the lower range while the Stoch RSI shows alot of selling pressure and the Adx shows a strong bearish trend. This leads to the conclusion that NZDCAD is heading for a further drop! Take profit: 0.92800 Stop loss: 0.95200
Details are well described in the post. A short term sell is possible. However, keep in mind that the pair can go more up during the days to come.
As discussed last week, I am once again looking at NZDCAD with a short perspective. The pink ML has yet to be hit, as the value area from around April 17 held price off for now. Price extended quickly up and found resistance where sellers took control previously. At this point in time it also coincides nicely with the pink UMLH and price action gave us a mini...
Big battle took place at the top of this swing up. Break out bar (bob) shows that buyers are no longer accepting higher prices and can expect price to at least retrace to the median line. If price gets high enough to visit BOB can go short based on evidence of nobody accepting higher prices above. Can expect a bounce of the value area on the way up as...
I found a nice trade this morning on the NZDCAD. We have a 240 min valid cypher (just under its entry), lots of structure at the current level and a valid double top in the 60 min (RSI over bought and RSI div) Nice profit/loss and hopefully a nice trade for today. Happy trading and let me know your ideas on this trade! (PS 786 should of course say 618 fib, sorry...
When it rejects the line, completes the double top and breaks the lows of the retracement, you want to take it short to the 0.9174 level as projected on the chart. Will keep this idea updated
Just touching our bearish trend line, we have two double tops coming together to make a bigger double top. Trend line and the structure that we see here also coincide with historical support and resistance area, aswell as the round even number 0.9500 which price has yet failed to violate. Above could very well be reason enough to see a bearish rotation where I...
Setup Timeframe: 4H Execution Timeframe: 4H Risk: 3% Reward: 6.4% Reasons for Entry: Showing rejection of a long term bearish TL, which also lines up with about the 61.8% bearish long term fib. Broke through a bullish CTL, and now looking to enter in on the retest of this broken TL which correlates with the 50% fib level. Reasons for SL placement: Above the...
Weekly quad top false breakout to the upside. Daily head and shoulder pattern leading to LL and LH confirming weekly trend change.
We have 8 failed attempts to close above 0.9400 First target - retest of previous low, second target 0.9320 Simple setup, sometimes we dont need more reasons to enter than a strong resistance.
FX:NZDCAD Safe Trades;