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NZDCADSIGNAL

NZDCAD | Perspective for the new week | Follow-upThis is a follow up on my previous publication (see link below for reference purposes) on this pair as the price action continues to flow according to expectations! Unlike my previous publication, Excited to let you know that I have captured a distinct and tradable pattern on this pair. The appearance of a Double Top pattern - a strong Reversal structure appears to fine-tune a Bearish setup as Buyers gradually lose momentum and price continues to show tendencies of risking a further decline in the nearest future. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Supply & Demand | Double Top | Channel Observation: i. Since late January 2021, the price has been caught within a Channel and since the Breakdown of CA$0.91850 followed by a significant rejection of this level... my Bearish bias becomes a little stronger. ii. This been said, I am anticipating a significant Breakdown/Retest of CA$0.91400 in the coming week(s) to join the decline as CA$0.91900/0.91500 remains a level to watch out for in this regard. Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
NZDCAD | Perspective for the new weekObserving the Day chart, despite the obvious that we are in an uptrend wave; we are beginning to see a Reversal structure as Buyers appear to gradually lose momentum and Sellers receiving the baton to push price further down with the hope of respecting the Bullish trendline on the daily chart. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Breakdown | Supply & Demand Observation: i. Successful Breakdown of CA$0.91500 on the 13th of Jan 2021 projects a high expectation of a rejection of this level in the coming week(s). ii. Supply zone @ CA$0.91500/0.92200 shall be a window to look for Selling opportunity in the coming week. Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:3 Potential Duration: 10 to 20 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
4
NZD/CAD PAIR BREAKDOWN! 👋 Hey there traders, and welcome to a brand new pair breakdown! 📌 If you like the content that I produce for you all, show some love by smashing the like and follow button, also, leave a comment! That keeps me motivated to produce more content! 📌 Why should you follow me on Tradingview? I'm transparent. I provide educational content. High probability setups I explain all my steps in-depth 📥 If you would like me to analyze a pair, or discuss something educational and or trading related, let me know via private message, or drop a comment! I always respond to all the comments! :) Keep in mind that the analysis provided is not 100% accurate and that you can never be certain about the markets. This information given is not financial advice, always do your own research. Thank you for your time, and let's destroy the markets together!
by UnknownUnicorn7363578
Elliot Wave: NZDCAD Bearish Continuation SetupSupport this analysis with your likes and comments! This is an update on the previous Daily setup shared a few weeks ago. NZDCAD reversed and broke the S&R zone and ascending trendline impulsively in wave i. According to Elliot Wave theory, impulse move is always followed by a three-wave correction. In NZDCAD's case, the short-term rally is currently taking the shape of a-b-c zigzag pattern in wave ii. Price is contained within a parallel channel and also retesting a significant supply zone. While the retracement can entends to a complex corrective structure, we can take a short entry from the current market level as long as the protective stop is placed at the major invalidation level which is the red line on the chart. Price has the potential to move downwards towards wave (a) low in wave iii of (c). The break of the green lines can be used as a conservative entry. The major invalidation level is the red line on the chart. What's your view on NZDCAD? Let me know in the comment. Thanks for reading! Veejahbee.
Short
by Veejahbee