NZDCADANALYSIS
NZDCAD | PERSPECTIVE FOR THE NEW WEEKWith over 350pips in our direction since my last publication (see link below for reference purposes); we are at a zone where the rejection of the Weekly resistance(Trendline) is happening with a tendency of decline in the coming week(s) feasible.
Tendency: Downtrend ( Bearish )
Structure: Trendline | Supply & Demand
Observation: i. As price continues to respect the Bearish Trendline since it hit peak @ $2,075.50 (August 2020) forming Lower Highs and Lower Lows, my Bearish bias becomes emphatic.
ii. Rejection of the Supply zone coincides with 61.8 retracements of Impulse leg XA with the possibility of a 1.272/1.414 Extension as a Profit target.
Trading plan: SELL confirmation with a minimum potential profit of 300 pips.
Risk/Reward: 1:3
Potential Duration: 10 to 20 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
NZD/CAD SELL SIGNAL Hey tradomaniacs,
welcome to a new free trading-setup.
NZD/CAD: Day-Swingtrade-Execution
Note:
After long NZD/CAD last week market has exactly reached my short-area.
This is the first attempt this week so I will keep my risk low.
Market-Sell-Order: 0,88040
Stop-Loss: 0,88445
Target 1: 0,87660
Target 2: 0,87365
Target 3: 0,87080
Stop-Loss: 40,5 pips
Risk: 0,5 % - 1%
Risk-Reward:2,21
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Peace and good trades
Irasor
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NZD/CAD BUY SIGNAL Hey tradomaniacs,
welcome to a new free trading-setup.
NZD/CAD: Daytrade-Execution
Market-Buy-Order: 0,87365
Stop-Loss: 0,87035
Target 1: 0,87650
Target 2: 0,87815
Target 3: 0,88040
Stop-Loss: 33 pips
Risk: 0,5 % - 1%
Risk-Reward: 2,20
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
NZDCAD - BEARISH BIASNZD - BEARISH
1️⃣ New Zealand extended its level three lockdown restrictions in Auckland until at least midnight on Sunday, reporting 7 fresh cases of the coronavirus as community transmission persists.
2️⃣ The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6% in the second quarter of 2020, posting the largest drop in total volume sales since the series began in 1995.
CAD - BULLISH
1️⃣ CAD lifted by a rise in oil prices after tropical storms Marco and Laura hit the Gulf of Mexico and amid optimism about coronavirus treatments.
2️⃣ US Dollar Index (DXY) is staying on the back foot as the greenback struggles to grab investors' attention as a safe-haven.
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TECHNICAL
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- We shorting NZDCAD on pivot point level + SMA100 area + SBR level on H1 chart.
- NZDCAD in bearish zone.
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RISK TO THIS TRADE
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This trade will hit stop loss if oil prices going down and market sentiment turns to risk-off mode.
NZDCADThis analysis for NZDCAD on time frame 4 Hours.
you can ENTRY SELL Now! or wait new candlestick retracemment at entry point than we can entry "SELL".
GREEN - TAKE PROFIT
YELLOW - ENTRY
RED - STOP LOSS
If your entry already & running in profit to TP1 move your SL upper 5 Pips to entry point, if already running in profit to TP2 move your SL upper 15 Pips to TP1. let the system running to last TP3. This gonna control you lost or create mentality to continue trade for longer time. This skill can secure your account from Margin Call. ~ SamTrader12
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NZDCAD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
SHORT TERM NZDCAD BUY As you can see, last week price closed strongly above a key reversal zone at around 0.87626 indicating it could be ready to push up further towards the 0.78 Fib level before we see that big swing lower we have been waiting for. Due to the strength this pair is showing me i am attempting to catch the continuation of the momentum up towards the descending trendline which is where i will be looking for sells.
Bare in mind a big confirmation for this trade to be valid is that price must break above the 0.61 Fib level at 0.87990 if we are to see a rally up.
SL: 50Pips
TP1: 220Pips