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NZD (New Zealand Dollar)

Nzd/Cad "Lessons Learned"I have been posting sell idea's for Nzd/Cad and they all were .... "Still in the Resistance Zone" and the analysis still could be correct but I actually entered a sell too early and had to close in loss. I had been entering a sell at resistance and getting lucky because they had been falling for the most part , but this time I got burned. Lots of lessons to be learned here! 1. I should have at least waited for a daily candlestick reversal pattern before entering the sell! 2. News pushed this pair up against me and I still held in loss " ON SUPPLY AND DEMAND PRINCIPLE's ONLY" and I got Burned! 3. Price hanged out at this area all week moving down and up, more up and then down ... then up more.... So im waiting to enter this trade again. I will not enter until I see a candlestick reversal pattern on the Daily Time Frame. I will never enter a buy at support or a sell at resistance ever again until I see a reversal pattern on the candlesticks!!!!!!!!!!! Also , price could stay in overbought or oversold on the rsi for a whole week before price finally decides to move.... Must be patient and watch out for this!!!! I can't believe I made this mistake after 2 years of trading but I learned my lesson!!!!!
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by RlcTrading
NZDCAD – Buyers might go furtherNZDCAD – Buyers might go further Trend : Buy/ Neutral Support/Resistance: R2: 0.85569 R1: 0.84961 S1: 0.84298 S2: 0.83689 Price action: Buyers reacted very strong from the last news announcement, but still they have to break R1 level, to prove their dominance. Price might reach first R1, and then we'll see how sellers will react back on lower timeframe. We need more answers, because news is not always number one fact we get in this game. Potencial trade idea: Bulls targets: T1 = 0.84961 Bears targets: T1 = 0.85569 NOTE – We are trading NZDCAD via the preferred trading setups. ELITEFXACADEMY Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
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by EliteFxAcademy
Buy action continue to higher levelsTrend: Strong Buy Support/Resistance: R2: 0.63875 R1: 0.63660 S1: 0.63363 S2: 0.63103 Price action: Bulls from previous week still didn’t stop because the weekly candle from previous week just started move up stronger. Following momentum from previous days is showing potencial channel continuation. Potencial trade idea: Bulls targets: T1: 0.63660 T2: 0.63875 Bears targets: T1: 0.63363 NOTE – We are trading NZDCHF via the preferred trading setups by EliteFxAcademy
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by MP4
1
DO NOT HOLD GBPAnother week is coming to an end and we have had some immense volatility across GBP pairs. We have some heavy GBP data this evening AFTER market close which has a high probability at showing if there is going to be a deal in regards to Brexit. With that being said, it is HIGHLY advised to close ALL GBP positions, as the future is unknown and come market open, we could potentially see a gap at 100 pips and beyond. If you are on the wrong side of the trade, it doesn't matter where your SL is placed, it will close the trade at market open, so for those that are new to trading, the consequences of not following this advice, could end up with you having a blow account! *Always take a look at an economic calendar like the ones provided by FXStreet and DailyFX. If there is big news coming out over the close of the market, it is always best to stay out of the trade!
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by wakethesheep
GBPNZD WYCKOFF SCHEMATICS EXAMPLESHello traders, we would like to share some value knowledge, about structure based mostly on Wyckoff schematics. As an example u have marked up few areas identify by us on multiple TF to help u deeper understanding about markets and printed structure itself. Please, scroll left and right chart to see multiple examples of accumulation and distribution schematics. Hopefully this will help u get some breakthrough in your trading journey. God bless u all.
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by Snipers-Academy
How to Read Volume Profile StructuresWhat Is Volume Profile? There are two ways of observing the total volume transactions in any market. As a spot forex trader, you can tap into tick volumes as an accurate visual representation of the total traded volume in the X-axis, which would then make your analysis be based on time. Alternatively, you can carry out your volume study through the vertical Y-axis, in which case, you are analyzing the total activity based on price levels. It is this latter study what volume profile is about; it’s a histogram of the amounts bought and sold at specific price levels as opposed to specific times. The volume profile allows any trader to evaluate the market context to keep track of the never-ending auction process. That’s what a market is at the end of the day, a constant negotiating process to find equilibrium/agreement (via the accumulation of transactions at a certain level), and the ones that were perceived too cheap or too expensive (no volume found). The art of reading volume profile is all about studying the anatomy of the market auctions. Before taking things to the next level, allow me to walk you through some basics. When drawing your volume profile in the chart, you must become intimately familiar with the following values: 1. Point of Control (PoC): It refers to the area in the chart with the most traded volume activity. This is by far the most relevant area you want to monitor as it can help to define the placement of your stops or the areas in the chart where you might find the most pristine entry levels. The highest concentrated area of volume for a particular period of time we will call it PoC or Point of Control and you will be surprised how many times it acts as a wall on a retest. Traders tend to factor this in as an area of support or resistance. 2. High Volume Nodes (HVN): Sub-sequences in the chart with high volume activity. While not as powerful nor symbolic as the PoC, the HVN is also a powerful area as it also represents increased trading activity. 3. Value Area (VA): The range of price levels in which a specified percentage of all volume was traded. By default, the industry standards tends to be 70%. Once I explain the principle of the distribution curve below, it will become much clearer why the default number is the 70%, bear with me. There are three different types of volume profiles to use in your charts. When you first call the volume profile option through the widely popular charting package trading view, the options include: Fixed Range Visible Range Session Volume (Preferred) I personally find the combination of the daily price action activity and its respective volume flows at specific price levels the most relevant approach as I will demonstrate in the next paragraphs. The session volume allows you to constantly obtain an update to re-evaluate the market, whereas the assessment of the fixed range or the visible range is more discretionary. That said, the fixed and visible range options also serve as useful tools depending on the purpose of your analysis, that’s why I will also spend some time going through the most valuable benefits of its use. Fixed Range: Selection Of Interest Levels A La Carte Trading the markets, especially if you are an intraday trader, involves constant interaction with your charts. You are constantly looking for areas that you can lean against to take certain actions. Right? This first fixed range option allows you to select any area in the chart to deconstruct the total activity. This is a tool that can be of enormous value if you are looking to tighten or trail your stops as well as spotting areas of most interest to enter your positions. Let’s say that you wanted to play a short in the EUR/USD 30m chart after the breakout of the range. A fairly conventional strategy would have been to wait for the price to break below the two horizontal support levels and enter short on a retest of either one of them. The next logical question would then be, where would you place your stop? If you are trading conservatively, you’d probably be placing your stop somewhere above the 1.16 in order to leave enough wiggle room in case the rebound returns back into the range. However, if you think about it, there are other areas in the chart that still make a lot of sense to capitalize on. If you were interested in tightening your stop in such a magnitude that your short trade could exploit the prospects of a much larger risk reward, you could then be tapping into the power of the fixed range volume profile to identify at what price level after the range breakout the highest concentration of volume occurred. You could then use this as an area of relevance to assist your action as a seller. In the example, it may have been a great area to play with a much tighter stop. There is a multitude of examples I could provide about the usefulness of the fixed range volume profile. However, since I want the core of this tutorial to be about the session volume structures, I’d refrain from further chart illustrations unless you want me to (post comments below). I am sure you can figure out how it could be of benefit to you, depending on your trading style. Visible Range: The Macro View Of The Market As the name indicates, the visible range option unpacks as much trading activity as data is in your chart. It portrays the big picture view of the most-traded price levels over a specified period of time. This option is most suited as part of your daily or weekly analysis to spot areas of interest in the chart. By stepping back and projecting an eagle-view from a macro level, it helps you to easily identify key supports and resistances, which is what I mainly suggest to use the visible range for. One of the most powerful approaches that I recommend is to select your macro areas of interest by zooming out your charts. Once done, you can start drawing horizontal rectangles at every high volume nodes (in black) or low volume node (in red). The areas highlighted will be by far the most relevant that you want to be paying attention going forward.
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by Mr_YOGi
1
NZDUSD BUY Technical Analysis: -Micro downtrend broken and is now being retested on the backside -Longer term uptrend has a 3rd touch and aggressive bullish candle from the two trend lines -Support & Resistance in the purple zone -Correlation with bullish AUD *Did not look at trading plan before executing this trade* *Similar to the AUDJPY call but this was a little later and now price was closer to both the trend lines and we were actually here for the bullish respect*
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by EsotericTrader
NZD CAD SHORT look @ high time frames for winning Trades I cannot emphasize enough to our traders in our group the Importance of looking on a higher time frame We Always Look @ the weekly chart, where is it i respect to your EMAs and RSIs Look @ the daily chart what is it doing today Plot on the 4 hourly chart for entry There is not enough Information in a 1 hour candle for you to decide whether to enter or not there is 24 of those candles in a daily candle anything under a 4 hour candle will buck you off and why sooo many traders fail . You need to stand back a look at the BIGGER picture If it means putting a larger stop well so be it as long as your ROI as where you want to be
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by London_fx_club
NZDCAD Potential ShortWeekly - as we can see NZD has been on a downtrend since November 2016 and has been respecting the descending trendline on separate occasions and on every-time it has reversed heavily. NZDCAD is approaching a key level and double top region, the last price has broken through this area was 11 months ago in march, since then it has been rejected 6 times and we are approaching the 7th attempt Daily - on the daily price has been ranging since the start of the year then price broke out last week and has been very bullish for 3 consecutive days. we now see price hitting our descending weekly trend line and the weekly price zone in red What We Are Looking For - we want to price to enter and reject this red zone and yellow circle to show that sellers are active. and then we want to see sellers take full control. by reject I would expect multiple candles with very large wicks and small body's Fundamentals - NZD PMI and CAD new house pricing on Thursdays which is only medium volitility so it should not effect our charts to much
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by nryan92