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NZDCADSIGNAL

NZDCAD EW Analysis: Short Trade SetupHi Traders, NZDCAD seems to have completed a 5-3 (impulse-correction) cycle. Prices decline in five-wave from the top in wave (a), followed by a three-wave corrective zigzag in wave (b). The pullback retraced almost 78.6% of the sell-off, and the price action becomes weaker as it approaches the top. According to Elliot Wave theory, once a 5-3 cycle is completed, the market resumes in the direction of the impulse which is bearish in the case. - Target below wave (a) low is plausible in the weeks ahead - The setup will be invalidated if the price trade above wave (a) high , red line on the chart. - Execution from the market price ideal as long as stop-loss is maintained above high. - The break of the green lines will further confirm the bears have indeed resumed. Best of luck on the chart. Regards, Veejahbee.
Short
by Veejahbee
6
NZDCAD - BEARISH BIASNZD - BEARISH 1️⃣ New Zealand extended its level three lockdown restrictions in Auckland until at least midnight on Sunday, reporting 7 fresh cases of the coronavirus as community transmission persists. 2️⃣ The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6% in the second quarter of 2020, posting the largest drop in total volume sales since the series began in 1995. CAD - BULLISH 1️⃣ CAD lifted by a rise in oil prices after tropical storms Marco and Laura hit the Gulf of Mexico and amid optimism about coronavirus treatments. 2️⃣ US Dollar Index (DXY) is staying on the back foot as the greenback struggles to grab investors' attention as a safe-haven. ===== TECHNICAL ===== - We shorting NZDCAD on pivot point level + SMA100 area + SBR level on H1 chart. - NZDCAD in bearish zone. ===== RISK TO THIS TRADE ===== This trade will hit stop loss if oil prices going down and market sentiment turns to risk-off mode.
Short
by MonsunAsia
NZDCAD/ Sell Wyckoff & Institutional BiasNZDCAD has reached its D1 Mitigation zone on the body, looks like it could push up to the mitigation on the 50% of the Institutional candle. I've already made my first entries on that first green line and I'm looking to enter my other entries on the black line above. Another thing that confirms my sell is the wyckoff schematic . Price has reached its UTAD area which signals a major reversal and long time sell. The risk to reward ratio used here is very good (5:92) Use proper risk management and safe trading.
Short
by baadmahn
NZDCAD SHORTFormation of a double top on the weekly, daily, and 4H chart gives a strong indication that price will head downwards after experiencing bullish momentum for a period of time. Price is also at an important area of resistance at which I expect the price to be rejected and head downwards to form a bearish momentum. Trading this pair using the breakout strategy. SL: 0.88470 (-59.5 pip risk) TP1: 0.86610 TP2: 0.85387 TP3: 0.84249 TP4: 0.83303 Let me know what you think. Let's get 'em pips :).
Short
by AzaraFx