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CADNZD

CADNZD H4 SHORT PRICE ACTION FORECAST With the price action approaching an old support level from last year's April, we could expect a pullback before getting enough force to continue its downward movement. To the previous demand zone, this pullback will encounter a short entry to capture the bearish momentum ahead. The order: Type: sell-limit S/L: 41 pips - R:R | 1:3 - T/P: aiming towards the previous high from the right shoulder formation happened last month -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADNZD H4 LONG PRICE ACTION FORECAST From a higher time frame, specifically W1, the price action has reached the ascending channel's support line. The price structure should now continue to the upper-level resistance. Now, diving into the price structure at H4 to get an entry-level, it is possible to realize that we need to wait for the breakout of the descending trendline before making any decision. In case the breakout happens, a retest should mark the crucial and reliable entry point to capture the forthcoming bullishness with the pair. The order: Type: buy-limit S/L: 61 pips - R:R | 1:3 - T/P: resistance level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADNZD H4 SHORT PRICE ACTION FORECAST With the price action trending into a descending channel and bouncing from the 18 EMA, a short entry can capture the bullishness with the New Zeland dollar. With an expected pullback to the previous support level, the following order is placed The order: Type: sell-limit S/L: 40 pips - R:R | 1:3 - T/P: aiming towards a previous support level. -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADNZD H4 LONG PRICE ACTION FORECAST The Canadian dollar has been into a consolidation mode, with CADNZD recently bouncing from a low level from December 2019 and experiencing a price compression, an uptrend breakout is most expected. It is allowing the placement of a buy order to capture the forthcoming upward momentum. The order: Type: buy-stop S/L: 73 pips - R:R | 1:3 - T/P: aiming towards the previous demand zone -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADNZD H4 SHORT PRICE ACTION FORECASTPrice action under bearish pressure has reached a strong support level, now expecting the price to pullback will allow a sell-limit entry order. However, if the price action can manage the breakout of the current level setup, it will be changed to the same sell-limit. Still, entry at the current level, expecting the used retest of the level before downtrend continuation. S/L: 130 pips - R:R | 1:2.2 - T/P aiming to support the red dotted line's level.
Short
by OGFXTRADER
NZDCAD bullish wedge and/or double bottom, Part 2Previous analysis worked out very nicely, actually even seen both pattern play out. One quick drop (small bear trap) completing the wedge and because it was a wick also keeping the double bottom alive. So far it is looking very good, almost perfect even. Now this kind of trade can become a big win. If we see that bull flag play out coming days, it's the perfect area to increase the position for the ones who bought the low last week. Don't forget to like if you appreciate this :)
Long
by botje11
2
NZDCAD bullish wedge and/or double bottomNZDCAD seems to be shaping a nice bullish wedge at a long term support zone. Now the tricky part is, there is potential for a double bottom as well now, so maybe it won't reach the low of the wedge anymore. But instead of guessing, i am going to watch it coming week. Sometimes with a big double bottom pattern like this, with the sharp drop it made, we see a good bounce up first. Then another retest of the low. So in other words, making a small double bottom inside of the bigger one. If that plays out, i might not wait for the wedge but get in based on the double bottom Previous analysis:
by botje11
2
NZDCADThe previous trade went through the stop today, but now when looking at it, it's also not breaking up. It has formed a bearish wedge and it is still below that red resistance zone on the left. Therefore i am going to short it again. I will close 30% around the yellow circle, will move stop to entry as well when we close in on that target and i will let the rest run. Normally i leave an asset when a stop gets hit, but these patterns still look too good. Previous analysis:
by botje11
1