Nzdcadlong
NZDCAD approaching support, potential for a further rise!
NZDCAD approaching support at 0.87590 where it could potentially rise further to 0.88790.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
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
NZDCAD - Great TradeExpecting further downside on this pair after breaking the previous significant structure. We are working with the small bear flag patterns that are being formed on the way down in the hope of a major downside move.
I have entered this trade because:
- The COT data is supporting our decision
- After viewing and analyzing CAD base pairs, I have come to the conclusion CAD could continue to strengthen against the NZD
- We are now trading below what was the previous significant structure, this level can be now used as a rejection zone for further continued downside.
NZDCAD reversed from resistance, potential drop!
NZDCAD reversed off its resistance at 0.88695 where it could potentially drop further to 0.87992.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Bullish on NZDCADNZDCAD might be giving a morning star candle formation. Waiting for the close of the present 4 hour candle before making the decision to enter a long position, or not. TP=0.89373, Risk to reward is about 1:4
NZDCAD long Awiting a pullback to the 38.2%, awaiting for a tap of the 50 EMA and trade it to the -27%, also a third tap of the trend line.
NZDCADON A DAILY TIMEFRAME THE PRICE IS AT STRONG SUPPORT LEVEL,
IF IT DOES NOT BREAK THE STRUCTURE WE EXPECT MORE TO THE UPSIDE.
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.LEAVE A COMMENT BELOW
NZDCAD bounced from support, potential for a further rise!
NZDCAD bounced off 0.88972 where it could potentially rise further to 0.89335.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
NZDCAD SHORT TERM BUY I can see price has made a retest of the broken trendline while also looking to be bouncing from a support level too. As I have a SELL LIMIT in place on this pair at the 0.78 fib level it makes sense for me to be placing buys.
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
NZDCAD longLooking for price to hold this level and test the highs if not we are most likley headed back down to the the lows
