NZDCADAfter reaching the price target of wave 5, we have entered the corrective wave correction. The corrective pattern has progressed exactly like the previous chart.
NZDCAD trade ideas
1.5 RR long opportunityAfter the bullish engulfing pattern, the price experienced a significant drop and formed a daily pivot. Consequently, the price could continue to decline; however, at the 0.8273 level, there are two strong support and demand zones that could lead to a price rejection.
The appeal of this long position lies in its risk-to-reward ratio of 1.5, with a small stop loss of approximately 30 pips.
Keep your trading simple.
2 possible directions of NZDCADFrom this price mapping we see that the pair is trying to determine the trend, currently the price is at the demand level. If it manages to break through the support area, the price will continue to the next support, but currently there is enough buy signal as confirmation. namely the formation of QM in TF H1
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NZDCAD - In Bearish TrendNZDCAD is in a bearish trend in 1H time frame. I have switched my time frame to 15min as there is no divergence is observed in 1H, 30m and 15min time frames. I have placed ABCD Bullish reversal Harmonic to predict the Potential Reversal Zone (PRZ at Point D). After determining the PRZ I placed an instant sell order by Market Execution. My TP is way above the PRZ so I have taken a risk/reward of 2%.
The Signal is:
EP: 0.83430
SL: 0.83100
TP: 0.83100
RR: 2%
Lots: 1.71
NZDCAD ShortsMarket Structure Bearish on HTFs DH
Entry at Daily AOi
Weekly Rejection at AOi
Daily Rejection at AOi
Strong Bearish move
Around Psychological Level 0.83500
H4 Candlestick rejection
Rejection from Previous structure
Levels 4.67
Entry 80%
REMEMBER: Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Stay Hydrated
#Follow#Share#Comment#Boost
NZDCAD Trading Opportunity! BUY!
My dear followers,
This is my opinion on the NZDCAD next move:
The asset is approaching an important pivot point 0.8349
Bias - Bullish
Safe Stop Loss - 0.8309
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 0.8408
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
The break downcheck out some of my ideas. also I don't take every trade idea that you see here
these are assumptions before price action completes and confirms. The point of my ideas are to predict price action everyone knows that's next to impossible but I'm having fun.
I am not a professional trader nor am I technical . all ideas are based on what I understand price to be. when I see certain confluences that aligns with my trading strategy, I then look for my opportunity to enter trades.
Good luck and happy trading
NZDCAD - Bearish Double TOP Hello Traders !
On Wednesday 5 June, The NZDCAD reached a resistance level (0.84798 - 0.85396).
The price formed a double top pattern.
Currently, The neckline is broken !
So, I expect a bearish move📉
___________
TARGET: 0.82620🎯
NZDCADThe chart depicts the NZD/CAD (New Zealand Dollar/Canadian Dollar) currency pair on a 4-hour timeframe. Here’s an analysis based on the visual information:
Trend Analysis:
The pair has been in a downtrend, evident from the series of lower highs and lower lows.
A descending trendline (yellow line) is drawn, indicating resistance levels.
Order Block (OB):
A blue rectangle labeled "OB" highlights a demand zone, indicating a significant area where buyers previously stepped in, causing the price to rise.
The price is currently at this order block, suggesting potential buying interest.
Support and Resistance Levels:
The chart shows potential target levels where the price might face resistance or find support:
0.83900: A minor resistance level where the price might pull back before continuing higher.
0.84545: Another resistance level, which may act as a target for a bullish move.
0.85185: A key resistance level; breaking this would indicate a stronger bullish trend.
0.86000: A major resistance level where significant selling pressure might be expected.
0.87000: A higher target level, indicating a strong bullish move if the price reaches this area.
Current Price Action:
The price is hovering around 0.83281, showing a small decline.
The price has just hit the support zone marked by the red rectangle below the current price, suggesting potential buying pressure.
Potential Trade Setup:
Long Position: If the price holds at the current support level (around 0.83200) and starts showing bullish signals, it could be a good entry point for a long position targeting the mentioned resistance levels.
Stop Loss: Below the recent low (around 0.83000) to manage risk.
Indicators:
No indicators are visible on the chart, but incorporating some (like RSI or MACD) could provide additional insights into momentum and trend strength.
NZDCAD Sell limit @0.835NZD & CAD is my favourite pair to trade,let the market decide this order win or lose.
Thank you
NZD/CADThe chart is a good indication of a good position to sell. To find good opportunities in the market, wait and trade and have the right price to avoid falling into the trap of big banks and enjoy a good trade and give a good deal a chance to bring you a good profit.
NZD/CADThe chart is a good indication of a good position to sell. To find good opportunities in the market, wait and trade and have the right price to avoid falling into the trap of big banks and enjoy a good trade and give a good deal a chance to bring you a good profit.
on watch - kiwi cad rt1quick breakdown of how I would be looking to play kiwi cad long if it shapes up
Overlap support ahead?NZD/CAD is falling towards the pivot which acts as an overlap support and could bounce from this level to the 1st resistance.
Pivot: 0.83496
1st Support: 0.83107
1st Resistance: 0.83993
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
NZDCAD longNZD starting a longterm corrective move for longs. So far seems like a X wave. It's currently consolidating on the daily for more upside
NZDCAD SHORTSPrice broke Daily Structure making majority of my timeframes bearish, Hence bias
Market structure bearish DH
Entry at Weekly and Daily AOi
Weekly Rejection candles at the AOi
Strong Weekly bearish close
Daily Rejection at AOi
Previous Daily structure point
around Psychological Level 0.84000
H4 Touching EMA
Candlestick rejection
Rejection from Previous structure
Levels 4.48
Entry 100%
There is a strong possibility price will not retrace to my AOi, I Will monitor and react accordingly but as usual;
REMEMBER: Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Stay Hydrated
#Follow#Share#Comment#Boost
NZDCAD 240 - Falling Wedge Emerging : 2 days agoFalling Wedge identified at 6/22 03:00. This pattern is
still in the process of forming. Possible bearish price
movement towards the support 0.8363 within the next 17 hours.
Expiry Date/Time: 6/24 07:22
NZD/CAD : 4h - SHORT TradeNZD/CAD is right now showing Bearish trend. There is no RSI bullish divergence as yet. Therefore, this trend is likely to continue at least till it reaches Fib 0.382 Level. During the day it may swing up and down but eventually will go downwards.
Also note that market's Commercial buyer are LONG for the future trades (refer barchart.com ) which implies that trend is expected to go Bullish in a week or two. For those of you (my readers) who do not want to wait for a week can follow this SHORT trade. Afterwards once trend reversal is confirmed then LONG trade will be taken which will continue for a month or so.
My trade values are depicted on the price chart.
Heading into overlap resistance, could it reverse?NZD/CAD is rising towards the pivot and could potentially reverse from this level to the 1st support.
Pivot: 0.83992
1st Support: 0.83442
1st Resistance: 0.84341
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
NZDCAD is BearishPrice was in an uptrend, however a bearish divergence appeared on four hourly time frame, which led to the break of previous higher low and the formation of a lower low. If the bears remain in control like this, further downside in price action is expected. Targets are mentioned on the chart.
NZDCAD: Policy Divergence Favoring the KiwiHello Traders,
In today's trading session, we are keeping a close watch on NZDCAD for a promising buying opportunity around the 0.83900 level. After experiencing a prolonged downtrend, NZDCAD has successfully broken out and is currently in a correction phase. This correction is bringing the pair closer to a critical support and resistance zone at 0.83900, making it a prime area for potential buy entries.
The ongoing policy divergence between the Reserve Bank of New Zealand (RBNZ) and the Bank of Canada (BoC) adds an extra layer of favorability for the NZD over the CAD. The RBNZ's more accommodative stance compared to the BoC's policies provides a supportive backdrop for the NZD, further bolstering the case for a buying opportunity at this level.
Trade safely,
Joe
