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Nzdcadlongsetup

A Good Trade to Gain Times The Risk on NZDCADNzdcad has an excellent trend continuation setup coming into play. First, on the daily timeframe, the price is going higher. Second, I see clear signs of higher highs and lows. Next, the price is pulling back. That's great because the further it pulls back, the closer it gets to where I want to enter the trade. I'm using my TMP strategy with a Fibonacci to increase the reward. The reward-to-risk ratio is 2.18, allowing a chance for me to double the profits I can make on the trade. What can invalidate this setup? Well, the only two things that can invalidate this setup are if the price does not touch my limit order and continues higher or if the price stops me from the trade, which I'm okay with. I'm just happy for the opportunity to participate. What about you?
Long
by ShaquanLopez
NZDCAD Long Trade SetupA bullish opportunity recently presented itself on the kiwi-loonie trading chart. This follows from the bullish engulfing candlestick pattern which printed just above the 0.79100 psychological level. A stop loss below the 0.79000 psychological level and a profit target anywhere between your entry and the swing high of 0.82534 could give you a reward-to-risk ratio as high as 7 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades. FX:NZDCAD Rooting for you! Your FX Plug
Long
by charles-okoukoni
NZD/CAD Will it make the retracement now?Monthly: In monthly time frame the price is over extended. Also, there is an extended M formation, and the price created an imbalance where I expect to set my take profit to the imbalance area. We could definitely expect a move to the upside. Weekly: The price is overextended so we could definitely expect the correction to the upside. The price is in confluence with the higher time frame. We could definitely expect a move to the upside. Daily: There is an impulse correction pattern. The price is in confluence with the higher time frame. We could definitely expect a move to the upside. All the confluence are in our side. The situation here is clear the movement to the upside is most likely to happen.
Long
by Wiiso
6
Looking to Go Long on NZDCADAfter a nice sell of and a breakthrough of the daily support which is now daily resistance. Price also broke below the previous low, this is known as a a break of structure. This signals that price is no longer bullish and will continue a bearish move. price found support at the monthly/weekly demand zone. Here is where price formed a double bottom, which at the end of bearish movement can serve as a candlestick reversal pattern. Price broke through the neckline of the double bottom and has now began its retrace to test that area. If price can ultimately respect this neckline or do not fall below this current low, I am expecting price to make a nice bullish move to the upside. I am expecting price to pullback and test the "break of structure which also correlates to the daily resistance and the 61.8 fib level. Like if you agree, if you see something else please feel free to comment. I am open to others opinions.
Long
by NoCeilingsTrading