Get started

Nzdcadlong

NZDCAD long trade ideaPlan : resistance level breakout --> wait for 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 like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
5
NZDCAD - PredictionThat is my view of the continued movement of this currency pair. Descending triangle pattern formed since 3 years ago, which was preceded by an upward trend. All I know is that this is a sign of a reversal because the trend that started it was the uptrend. At the moment the price seems to be going to the trend channel (trendline of descending triangle), so that when the price has reached it, a bearish gartley pattern will be formed, which indicates a reversal of direction. I predict the price will go to the point of the trendline because of a doji candle with very long lower shadow. The assumption of this reversal is quite strong because of the descending triangle and bearish gartley patterns, with a note if the price reaches the trend line. The real reversal of the descending triangle pattern is when the support line below is broken.
by daltray
1