Hey guys hope you are all having a wonderful and blessed weekend so far! Just wanted to come on here and make a post for a potential setup I see for the week ahead on NZDCAD! Not going to go super in-depth but will give a general breakdown of why I am looking at this pair to potentially trade. Lets dive in!
OK so starting on the weekly timeframe price seems to be getting some buyer interest around the lows of 0.81000 area of demand...ending the last week of data with a strong buyer engulfing candle. On the daily timeframe you can see price attempted to push lower on the daily to break the 0.80700 lows but failed and the buyer actually ended up buying up prices forming a HL in price with strong momentum=interest. SO this really caught my eye.
So what I am expecting here is at least potentially another push to the upside from 4H demand levels into the daily supply zone around 0.82800 that I have marked off.
The key is going to watch to see how sellers react on the pullback (if we get one) and potential to swing this to the upside. We also do have some fib alignment and 4H EMA alignment with demand as well which adds some technical confluence to our zone and setup also.
Hope you guys got some value in this please boost and follow my page for more high accurate analysis and setups! Cheers!
OK so starting on the weekly timeframe price seems to be getting some buyer interest around the lows of 0.81000 area of demand...ending the last week of data with a strong buyer engulfing candle. On the daily timeframe you can see price attempted to push lower on the daily to break the 0.80700 lows but failed and the buyer actually ended up buying up prices forming a HL in price with strong momentum=interest. SO this really caught my eye.
So what I am expecting here is at least potentially another push to the upside from 4H demand levels into the daily supply zone around 0.82800 that I have marked off.
The key is going to watch to see how sellers react on the pullback (if we get one) and potential to swing this to the upside. We also do have some fib alignment and 4H EMA alignment with demand as well which adds some technical confluence to our zone and setup also.
Hope you guys got some value in this please boost and follow my page for more high accurate analysis and setups! Cheers!
Comment:
NZDCAD hasn't really done much...could still see the pullback and push higher so let's watch and see what it does...NZD pairs not super correlated at the moment so the CAD (Canadian dollar) will probably be dictating the next moves for this pair in the near foreseeable future keep eyes out
Trade closed: target reached:
Overall target zone was reached on this trade but did not give me discount to get involved...on to next..good read though! Cheers! Love you all