Price action signal: pinbar on resistance level after price slowed down its growth towards to the resistance level and was rejected on higher levels (sellers are there stronger) Profit target: on previous S/R level Potecial risk: round number level 0.9000 where price could stop and reverse
Price action signal: doji after the price slowed down in last days (buyers are not so strong) and the price reached significant resistance level Profit target: conservative approach slightly above round number 0.68 Potencial bigger risk: next day meeting and speach on both sides - NZD and USD
Could be nice opportunity if price action make some bearish signs in reflected S/R zone.
In long-run we are in uptrend so buying is considered as a better option. Nowdays we are fluctuating in small range that could evolve in complete AB=CD pattern after break (and close above) out of the range. Entry point is on the bottom of the range after some signs of bullish price action, or after mentioned breakout. Exit is on previous highs and on the end of...
Its simple - if we come back to S/R zone 1.34 we will look for price action setup for long position.. But on the other hand its also difficult because of coming december of 16 and FEDs decision about interest rates. Aaaaand some inspirational quote which i really like:D
Latest trend is bearish, it could be nice opportunity to go to 2.00 level
I chose conservative take profit. Looks simple, lets see if it will work
Pretty decent setup. We are in downtrend, actually right now in range and the price made nice pinbar which is sticking out. We got 0.64 as a resistance level and its also a round number so its make the resistance stronger. It is clean setup but volatility comes tommorow.
Could be a nice signal to sell usdcad. We are making lower highs and after breaking the triangle/wedge we made two pinbars which telling us that there are still some bulls power (this bothers me a lot). 1.28 looks like nice S/R zone, also round number and it is a 38,2 fib level for retracement of the pattern and also first target for bearish move.
Again - if we break below and close below we can go to 0,80 which is support zone from W1. Its always necessary to have more confluences so i used fib extension and 1.27 level of latest bearish movement cooperate with 0,80 support level. So we have support zone that we are waiting to break and close below, we have another important support zone, 1.27 fib level,...
If we close below the the support zone 2.012 then we can continue to 1.973. Of course we can break, close below and go back up as a false breakout or a retest of S/R zone. Im going to look for some price action setup on daily and H4. And obviously the fundamentals from Canada tomorrow will be important, fridays are crazy :/
We broke above the highest highs of 6 weeks. Seems like good opportunity to reach 1.59 level. Chart has here some problem to load last candle
Supported by S/R zone. First target 11242, second target 11450.