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Nzdcadlong

NZDCAD: Risky At These LevelsQuick setup could arise if NZDCAD heads down to one of those trendlines for a 3rd bounce and/or a final wave up. I see little opportunity to the upside if entering long in this area. However, I will not open a short in anticipation of a dip lower for liquidity as these moves sometimes randomly break up and continue making new highs. If price heads lower and stalls around one of those areas of interest, a long position can be opened w/ a relatively tight stop.
Short
by Jroge107
Long NZD/CAD - potential H&S (medium to long term)Weekly 8 period moving average has crossed above the 16 period moving average. Referring to a monthly chart this could be the dip in order for the long term up trend for this pair to continue. Daily Looking at the daily chart, a head and shoulders pattern has formed. The resulting neckline can be drawn in two ways: 1. Horizontal at 0.91 - in line with the left shoulder and a level at which the current price has been flirting with. 2. Slanted - in this case the neckline has been broken and price action over the last couple days can be viewed as pull back to the falling neckline. In both cases the right shoulder formed a low of 0.886. which is now a key level for this play. The second notable feature of the daily chart is the ADX crossing above 20 suggesting a trend is starting out. 4 Hour and 1 Hour Key support lies around 0.9012. On the hourly my current entry lies 0.9013 to 0.9040. Over the last couple days price has rallied after entering this range and is therefore a key region of support. Note this also lies just above where the slanted neckline would be. Trade Parameters Entry: 0.9013 - 0.9040 Stop loss: 0.8850 Targets: 0.9240 (R/R: 1.29), 0.9410 (R/R: 2.29) and 0.9530 (R/R: 3.00)
Long
by NSC95
2
NZD/CAD Daily Update (10/10/17)Price is approaching a critical support zone - 0.88 I am looking for a possible long trade and swing it back to the resistance level. Disclaimer : This analysis does not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
Long
by imjmesl
NZD/CAD long setup- NZD/CAD has shown a decisive break above 20-DMA, currently hovers around 50-DMA at 0.8855 - RSI biased higher, gaining upside traction at 56 levels - Stochs are biased higher, momentum studies are bullish - We see bullish divergence from price action on RSI and Stochs Support levels - 0.8787 (20-DMA), 0.8785 (5-DMA), 0.8740 (Sept 12 low) Resistance levels - 0.8905 (23.6% fib retrace of 0.87581 to 0.86417 fall), 0.8929 (Nov 1 high), 0.90 (100-DMA) Good to go long on breakout above 50-DMA at 0.8855, SL: 0.8785, TP: 0.89/ 0.8930/ 0.90.
Long
by FxWirePro
6 clues why i think NZDCAD could go higherHey guys, i've written down some of the key reasons i'm willing to long this market. First, we have a daily Bat pattern that's been completed but that never reached its target level (nor broke the X point) therefore it's still valid. At that level we also have a daily structure (yellow box) that could act as support again. Ultimately, in the daily chart we can see some long wicks to the bottom together with an engulfing pattern showing some buying strength. This engulfing is also represented on this chart (4H) in the form of a rally that broke into new highs in the recent days, right after a double bottom. Given the case, it's a nice opportunity to trade the 2618 strategy that consists on buying/selling the 618 Fib retracement of the leg that breaks the double top/bottom's neckline. Stops below the lows, targets as shown up here. If you have any idea/comment, let me know. Otherwise, see you in the next chart! P.S. Sorry for the last 2 weeks without a videoanalysis but i was very busy. I'm sure i'll be back next week!
Long
by Roker1
Bunch of clues on NZDCADHey guys, i've written down some of the key reasons i'm willing to long this market. First, we have a daily Bat pattern that's been completed but that never reached its target level (nor broke the X point) therefore it's still valid. At that level we also have a daily structure (yellow box) that could act as support again. Ultimately, in the daily chart we can see some long wicks to the bottom together with an engulfing pattern showing some buying strength. This engulfing is also represented on this chart (4H) in the form of a rally that broke into new highs in the recent days, right after a double bottom. Given the case, it's a nice opportunity to trade the 2618 strategy that consists on buying/selling the 618 Fib retracement of the leg that breaks the double top/bottom's neckline. Stops below the lows, targets as shown up here. If you have any idea/comment, let me know. Otherwise, see you in the next chart! P.S. Sorry for the last 2 weeks without a videoanalysis but i was very busy. I'm sure i'll be back next week!
Long
by Roker1
1
NZDCAD - Potential Bat Pattern on H4 ChartMy previous idea on the bullish bat pattern spotted on daily chart has reacted but has not hit TP1. Another bullish bat pattern is about to complete soon on H1 chart , but I might not be awake to update this idea. RSI is at oversold level already, I will still wait for pattern to complete before making my next decision. R:R at 1.3 (TP1) and 2.2 (TP2). Might actually be a good long entry for traders who did not long NZDCAD previously, do check out the related idea below.
Long
by lyl89