Nzdcadlong
NZDCAD - Bullish Bat Pattern Completed on Daily ChartI'm a little late for this pattern, but it's fine to enter next week as R:R is above 1 based on closing price, still within my risk appetite.
From experience, patterns found on daily and weekly charts have reacted positively so far.
If you want to wait for price to hit PRZ, R:R is 1.4 (TP1) and 2.4 (TP2).
NZDCAD - Bullish Bat Pattern RetestBat pattern has completed and reacted, but did not hit TP1.
Notice price has dropped and hit PRZ again, however RSI is rising.
This shows a good probability that the market will react to the bat pattern again.
Furthermore, the PRZ area has been rejected on December, January, April and July.
R:R is 1.1 (TP1) and 2 (TP2).
NZDCAD Breaking OutOn the daily time frame NZDCAD is showing a nice ascending channel. Previous candle touched the upper range and the current candle is trading outside of it,, making it a sweet buy setup. Stoch also just made its bullish cross over.
Ive pointed out the next resistances areas which either be used as take profit targets or a target at which you move up your stop loss to lock in some profit and aim for the next resistance.
stop loss 0.9270
NZDCAD Bullish Bat PatternNZDCAD setting up for a potential Bullish Bat Pattern with the first part of the final leg extending 138.2% into the PRZ.
This pair seems to respect Monthly Classic Pivot Points well, so I would not be surprised to see price dip below Monthly S1, touch the PRZ for an entry, and start heading up towards Monthly R2.
NZDCAD - Long opportunity, gartley and 2618 in the background8 failed attempts to close below 0.92900.
We find heavy support here looking back historically aswell.
In the background we also see a completed gartley, and we also have a double bottom followed by a 61.8 retracement which acts as my entry point.
The momentum is turning in our favor.
IF, however, we break to the downside we will most likely find another interesting opportunity around 0.92700 level. This is why Im not placing stop loss below 0.92700 - because if we break down, my reasons for entry are violated and we will most likely see a fall, if even slight, below 0.92700 anyway, which would yield terrible R/R for this setup.