Nzdcadshort
NZDCAD SELL IDEADue to the facts that this pair has been trending downwards since 2017 and that it also closed extremely bearish on the weekly timeframe, this trade is aiming to catch the continuation to the downside once the pullback has finished. Also because price has broken above SUPPORT on the daily i am looking to see price reverse sharply causing the weekly candle to look bearish while we have entered at the top of the wick.
Always use 1-2% risk management per trade.
Ascending Triangle coming to end for NZD/CADWe are considering both scenarios for NZD/CAD because Ascending Triangle has coming to end and that's why we are putting two pending (both directions) orders if either of the triangle lines are broken.
But be careful to put the entry too close to the broken line.
Good luck !
NZDCAD short trade ideaPlan: wait for the price to bounce off from trendline or resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**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.
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GWBFX
NZD/CAD SHORThere we have a nice short confident setup on NZDCAD, as you can see we was in a big ascending channel but then took a big reverse to the downside creating a reversal channel to the downside, it touched the downtrend line and began dropping back into its small uptrend channel which you can see , looking to make a touch on the bottom trend line of the small uptrend channel . aswell as its got bearish divergence which is another confirmation.
NZDCAD appraoching resistance, potential drop! | 21 April 2020Price is approaching resistance where we could be seeing a reversal below this level. Our first resistance level is in line with our 78.6% fibonacci retracement and 78.6% fiboanacci extension. Please also tell us what you would like to see next.
NZDCAD appraoching resistance, potential drop! | 21 April 2020Price is approaching resistance where we could be seeing a reversal below this level. Our first resistance level is in line with our 78.6% fibonacci retracement and 78.6% fiboanacci extension. We will be posting the written version as well so do keep a lookout for that! Please also tell us what you would like to see next.