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Longnzdcad

NZD/ CAD !! 7/26 trendline Uptrend✍️ NOVA hello everyone, Let's comment on NZD/CAD price long-term trend 🔥 Identify: D1 - long-term time frame shows that the price is following the Uptrend line - touching the trendline. wave 5 🔥 Technically: Based on the resistance and support areas of the NZD/CAD price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: 0.82500 - 0.84000 - 0.85500 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Long
by Nova-Scalper
3
Possible Long NZDCAD?? Feel free to like or comment. Especially if you see something different or think otherwise state your reason(s). I am open to seeing others point of view. 1.) Here price found support and formed a double bottom pattern, which is a bullish formation and started off the uptrend. This also serves as the low. 2.) After the double bottom was formed, price confirmed it by retesting/respecting the neckline. This ultimately created a Higher Low. 3.) Price broke out of the monthly support as expected and begin to form higher highs and higher lows. This higher low formed a double bottom. 4.) After double bottom was formed, price continued up and created a higher high. Price then retested/respected this neckline and continued up. This area also served as a daily support, which will eventually form a daily resistance. 5.) Once price found support at the daily resistance price formed another higher high. After this high price retraced and ultimately broke below the prior low. This is known as a break of structure "BOS." When this occurs except a retrace to test this level and price possibly dropping lower. This break of structure also correlates with the daily support level which is now resistance. Also when a BOS occurs, normally look for a retrace to at least the 50.0 level. After drawing the fib from the high to the new low, the 50.0 fib level ALSO correlates with the daily support/resistance and the prior low. After price broke structure it found support at the monthly/weekly support level. Formed a double bottom, which also can serve as a bullish reversal pattern. Price is currently at the neckline of this double bottom, but the previous daily closed in a large bearish candle. Since price is still respecting this monthly/weekly structure. I will just wait and standby for price to show bullish candlestick and enter a buy. 6.) If you switch over to a higher time frame like the MONTHLY, maybe the weekly, you will notice that price formed a double bottom. Where price is currently is testing this area (the red broken up line illustrates the neckline of the double bottom).
Long
by NoCeilingsTrading
change of reversal soon on NZD/CADNZD/CAD is a pair that i've personally been looking at,for quite some time. We can see that it''s been in a burrish trend for almost a month and some consolidation is going on now . Also MACD indicator has lost its sell power and we some buyers taking place instead, but again its flat so dont rush. For me i would like to see a break out soon for a buy position with a 130pips opportunity. If this does not occur we can see it go on its 6th wave and then probably go for a short position. Use your own judgement and do not go blindly on a pottential position. Concistency is the key!!!
by The_DailyProfit