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NZDCADANALYSIS

Nzd/Cad (A Candle By Candle Analysis)Here im looking at the last 3 daily candles to get a story about what was happening and the mistake I made by entering early! So as you can see , price actually did find resistance , then created a doji at resistance the next day .... AND STARTED TO MOVE DOWN tricking me into entering the sell! The problem was that I was reading into the news data for Friday Wrong ... thinking news would help push this pair down (Along with Gbp/Cad) and I entered early during NFP that pushed me into the negative!!!!! However... The Analysis still stands and Im ignoring the last 2 daily Candles because of news... This is a sell! (See The Montly Chart in my other Idea) I was lucky because I used a small enough lot size to where I could withstand this move up against me!!!! So in this trade .... I entered at resistance as price began to move down... It seems that I did everything right... But my problem here was trying to enter this trade before the big news friday! This is a mistake I will learn from in the future and you should too!!!! From now on , when price reaches daily resistance and begins to fall..... WE MUST SEE IF BIG NEWS COULD BE RELEASED THAT COULD PUSH THE TRADE THE OTHER WAY!!!!!! Anyway... im still holding in the negative and I hope that someone learns from my mistakes and this chart!!!! P.S. I made a mistake by saying price made it to the 200 day moving average on Dec 19. I meant to say that price made it to the 200 on December 5th!!!!!
Short
by RlcTrading
15
NZDCAD Daily Closes Finaly With A Bullish CandleStick Formation About 2 Weeks Ago NZDCAD Broke Out of Its Wedge Pattern At A Weekly Major Support (See Previous Posts On NZDCAD) Since Then We Have Had 2 Chances To Get In, 1st When It Broke Out 2nd Was At A Trend Line Break, Now We Have A 3rd One, The Daily Closed With A Bullish Engulfing Candlestick Formation (See Yellow Circle on The Candle) With A Counter Trend Line Break, And On The Lower Time Frames The Market Took Out Some Highs As Well, It Looks Like The Market Is Finally Ready For Take Off. We Also Have The RBNZD Rate Decision Coming Out Soon, Lets See How That Will Affect The Market.
Long
by ElyaStein
Second Chance To Buy NZDCAD After Pull Back With Full Body CloseThe Market On The 4 Hour Chart Just Closed With A Full Body Candlestick And A Counter Trend Line Break, This Comes After The Market Previously Broke Out of A Wedge Pattern As You Can See On The Chart. If You Look Back On My Previous Post You Will See That The Wedge Pattern Is At A weekly Major Support Outlined On The Chart With The Green zone. I was Already In From My Last Post But I Rentered Now After The Marked Pulled Back And Closed With A Counter Trend Line Break. This Does Not MEan At All That The MArket Must Now Go Up The MArket Might As Well Decide To Come Lower, But Even If It Does Im Still Very Confident That Overall The MArket Is Heading Up Higher. I hope You You Found Some Value In This Post, And If You Did Please Do So And Hit The Like Button, Like This I Know That People Enjoy And Understand What Im Posting. Thanks And Have A Great Day.... Easy Trading!! Elay Stein
Long
by ElyaStein