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NZD

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.
Education
by EliteFxAcademy
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
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
GBPNZD Short Technical Analysis: (Same Exact Setup As GA) -Price broke below the MA aggressively -Broke below purple zone which was previously a strong floor and now retesting -Confluence between all three indicators Emotions: -I came into this setup a little late, I was eyeing this earlier in the morning and had it on my watch list but, I just saw this trade and am not getting to it pretty late. That is okay though because I am not rushing this trade. I have my limits set and if price comes back one more time I will be ready but if not at least the analysis was correct and validates that these setups are working. **Currently not in the trade as I was writing this and probably will not enter due to the volume of price being pushed down**
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by EsotericTrader
NZDUSD - At critical supportNot financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk. As I originally pointed out a couple days ago that NZD was at a decision making point, we are there yet again! I basically called this bottom and we're finding support here. This support is here, but how long will it hold? We can see from the channel we're in that we're punching it repeatedly. Here's what I can see right now: 1. Strong sell pressure got us down to where we are. Very strong sell pressure. Almost all the volume on the way down was selling. 2. We are having a weak reaction. Support levels are only strong if you see a strong reaction. If there's not a strong reaction (there isn't) then we'll likely fall back down some more. 3. The oscillators just look really bad right now. Best case is we move sideways for a few bars (maybe a couple days) but unless there's a reaction here (and soon), we will start trading further outside of this channel causing sells to occur. If we fail this zone, the next area to look for support is .672 or .667 Trade Safely Friends! <3 -CE-
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by bitdoctor
Elliot Wave Alternation Elliot Wave Alternation The guideline of alternation states that if wave two of an impulse is a sharp retracement, expect wave four to be a sideways correction, and vice versa. Figure 22 shows the most characteristic breakdowns of impulse waves, both up and down. Sharp corrections never include a new price extreme, i.e., one that lies beyond the orthodox end of the preceding impulse wave. They are almost always zigzag (single, double or triple); occasionally they are double threes that begin with a zigzag. Sideways corrections include flats, triangles, and double and triple corrections. They usually include a new price extreme, i.e., one that lies beyond the orthodox end of the preceding impulse wave.
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by ImSng
Follow the Trend, My Strategy!This is my trading plan. You can look through my published ideas to look at other examples. I need 3 reasons to enter a trade. 1. A clear direction. I use 3 emas 50, 100, and 200 as shown in the chart.(Required) 2. A horizontal support/resistance area. (Required) 3. Price retrace to one of the emas to act as resistance. (preferably than fib) 4. Fib continuation 0.382, 0.5, or 0.618 level. Placing a stop loss. My target for stop loss is between 10-25 pips. I place my stop loss behind the horizontal and/or the next ema. My target price is always 2 times more pips than I risk. ---------------------------- I trade between 15 pairs, and on 30 minute time frame. One reason is to counter F.o.m.o trading(Fear of missing out). Counters Revenge trading because my trade size is smaller, and the opportunities are endless. Counters Gambler's Fallacy because I require 3 reasons to enter a trade, I don't enter a trade and expect to win after losing 3 times in a row, I place a trade based on my strategy. I'm still trying to evolve as a trader, as you can see that throughout my published ideas.
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by PavelKarakay