NZD/CAD: Swingsetup and Opportunity#SELLHey tradomaniacs,
NZD/CAD has been broken through the trendchannel (a) and has hit a strong key-resistance showing a decreasing volume the closer we got to it.
This is a high evidence of a bullish weakness and shows it is time to for bulls to save profits.
I expect the market to head towards the previous channel to retest it before the rally continues.
The current resistance-zone gives us a great risk-reward ratio and good opportunity to sell.
Type: Swingtrade
Market Sell: 0,87555
Stop-Loss: 0,88985
Target 1: 0,85965
Target 2: 0,84750
Target 3: 0,83565
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Peace and good trades
Irasor
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Keyleveltrading
Ascending Triangle Almost CompletedWon't be doing swing analysis for the rest of December since this is the most volatile month of the year.
We are in an ascending wedge with Gold and it's on the verge of completing. So we're trading for the breakout.
The entire move still looks bullish overall to me. This huge move just looks like a big retracement.
So the target this round is two key levels: one above and one below.
BULL TPS:
• 1474.91
• 1486.85
• 1492.65
BEAR TPS:
• 1455.75
• 1448.67
• 1438.31
Bullish Channel Moves May Continue But Getting ShakyWe've been in a bullish channel for a good hot minute.
From the 4hour chart, it looks like we'll remain in the channel.
But there are signs that this move is starting to get a little shaky on the daily and weekly chart.
So gonna keep an eye on this pair to see when the big drop is gonna happen.
Otherwise, my swing trade outlook goes to the monthly SR level at the moment -- as long as we continue to stay in the channel.
BULL TPS:
1.63487
1.64018
1.65135
1.66041
BEAR TPS:
If we break out of the channel...
1.62096
1.61175
1.60126
Bull Rally May ContinueWith the overall downtrend broken, we're waiting for the full breakthrough or rejection of the monthly SR level to reveal price's direction.
Thnk this bull rally is far from over.
This week will most certainly let us know.
BULL TPS:
82.783
83.230
83.598
83.992
BEAR TPS:
82.239
81.895
81.523
80.876
Pullback Coming Into Play For Bull ContinuationGBP has been a fun ride since September with its bull run.
And after this retracement takes place, it's not stopping.
Let's see how far the pullback will be respected before we continue to shoot for the stars.
BEAR TPS:
1.68932
1.66584
1.64280
BULL TPS:
1.68932
1.71170
1.75415
Big Moves Last Week Setting Up for Pullback Trade??We had so seriously huge moves on GJ last week.
But right now, we've got to do an adjustment before continuing this bull run.
And when I say adjustment, that means pullback.
I already got a position trade TP in place for when this run will be over.
Pullback TPs for the short are below. Let's see when we're going to keep that bull run going -- now or later.
BEAR TPS:
If price begins retracing from 141.469 area
140.009
137.658
135.674
BULL TPS:
141.469
142.660
142.902
144.775
147.177
Bearish Harmonic May Still Be RespectedThe bearish harmonic was activated by ANOTHER rejection of the monthly SR level.
This can continue to be respected after the pullback completes itself.
But notice how much this monthly SR level has been rejected.
We may make it up there again.
But if we do and it rejects, we are not coming back.
Right now, let's see how long this harmonic will be respected.
BEAR TPS:
26724
26642
26433
26174
BULL TPS:
26908 (this is also the pullback entry for the short)
27061
27141
27315
Is the Bull Trend Over Thanks to President Trump?Currently respected the bullish harmonic formed Friday thanks to President Trump.
GO TWITTER!!
In consolidation preparing for the next move.
If it can break the weekly 26130, and break resistance at 26438, looking to revisit 26724 or 27061 for the bull TPs.
If goes bearish after consolidation, will head down to 25080 monthly SR. Long term tp 24295.
On the daily, we're in a bearish range. So this can make a Big Boy move to the downside if this range is confirming the bull trend is over.