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Nzdcadshort

NDZCAD - Nose DiveI am placing this sell limit order because I believe this pair will want to respect the descending channel. Now that we have broken the small ascending channel and have come back up to re-test the structure and the 0.618 Fib, I believe we will see a small downtrend emerge. The sell limit has been placed between to 0.618-0.786 Fib in an attempt to get a wick entry for maximum returns, if we don’t get this then we will simply leave the pair and focus on another. Another confluence we can work off of here is the 50 EMA on the 4-hour time frame, It has been broken and we are now coming up to re-test it. Fingers crossed we get the entry and results we are after, the confluences are there so let's hope for the best.
Short
by AlkalineFX
NZDCAD (S) LIVE TRADE Short play from resistance 0.8920 4hr :Head and Shoulder formed, followed by a break and retest of 4 hr 50 ema 1hr: Making lower lows and lower highs Negative: Price is still in a small zone as highlighted on the chart, once we break out of that we could see a strong move to the downside (potential break and retest whats now support as later resistance) Entered after 1 hr rejected 50 ema with strong bearish momentum, waited for hourly candle to close. Stop loss above recent high + .618 fib. Looking to next support/resistance level of 0.879 unless technicals show price is turning to move back up. Will use aggressive stop management. Will update bellow. ___________________________________ ** DISCLAIMER* The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting individuals to make independent trading decisions. Trading can be risky, make sure to use proper risk management!! The analysis given out reflects my personal ideas and does not mean I personally take the trade, my preferred entry may never actually present itself. ___________________________________
Short
by jakubprymicz
1
NZD/CAD Possible Short soon? await price actionhey traders, As we can see nzdusd has been in a uptrend since 23/24th March - we can see it is now approaching a key resistance zone. It last tested this region is June 2019 in which it dropped. If it fails to break this area again in 2020, retraces then retests the resistance but the buyers fail to push price higher..We could see a nice sell opportunity as this would also create a double top confluence as well as being at a key resistance zone. If this set up plays out, i expect a pull back to the 0.5 fib region which also is around a good support area which is another confluence However, if price breaks the resistance thus making it support, we could then look for buy opportunities - await price action
Short
by TradewithDann