Bullish if weekly candle can close above previous highs. First upside target is highlighted. Lower time frame entry & retest of accumulation area is ideal. Adjust stops accordingly... there is quite a bit of downside.
Trade the breakout and retest or trade the stophunt. 88.83 or a lower buy limit yields a safer entry than a breakout. 90.45 would be the area to look for the retest if that's the direction price heads.. Just my 2 cents, trade this at your own discretion.
This trade would be a .618 continuation after the recent ABCD correction. Stop is relatively at the bottom of the channel with targets at the next possible region to see some resistance. Close half the trade and let the remainder continue onto the 1.272 or 1.414 extension etc. Buy limit entry or 1hr tf bounce.
Punched back through this zone as we look for support. Monitor price action to enter long upon a retest. If this trade sets up and a decent smaller t.f. entry is found, i would not hold past $65. 2R trade places the stop relatively tight to another likely area for support so be mindful and watch carefully.
Ideal entry is at the .618 fib, but the previous structure high should not be ignored. I will be watching the two places of interest on both the 4hr and 1hr charts for signs of a bounce. Stop and target are preliminary as this setup is looking for a new all time high to be formed. -Trade at your own discretion.
Note: 1.19384 is the averaged price between the...
Nothing fancy. Divergence coupled with a new low printed followed by a retest of the .786 fibonacci retracement. Stop is ATR + Spread above the high with TP1 being the pinbar (structure low) and TP2 being the 1.272 extension. Notice on the scaled out chart that we could be at the top of an ascending triangle, so greater potential downside exists.
-Trade Smart :D
Quick setup for next week. Divergence & a possible "stop hunt" to the upside. Two ways to play the trade; first would be sell limit in hopes for a retest of .618 or, second would be a break lower and retest. Target area is roughly the .50 fib of this move which brings us around some potential support.
Look through all the charts posted in the updates for factors of confluence . This 1hr chart has a good looking tweezer bottom candle formation, coupled with two solid bullish candles. The cyan trendline will be further discussed below.
Quick setup could arise if NZDCAD heads down to one of those trendlines for a 3rd bounce and/or a final wave up. I see little opportunity to the upside if entering long in this area. However, I will not open a short in anticipation of a dip lower for liquidity as these moves sometimes randomly break up and continue making new highs. If price heads lower and stalls...
Two attempts to break the .786 fib, as well as being trapped in a strong zone of resistance could produce a great trade opportunity. With the yearly pivot sitting below, I believe we will see a continuation down in the coming days/weeks.