NZDCAD trade ideas
Bullish swing for NZDCAD
Although the overall bias from a positional standpoint remains bearish, NZDCAD is officially bullish from a swing perspective having broken key technical elements:
-Descending weekly trendline
-Major zone at 0.84000
-Neckline of the weekly inverse HS
Long trades will be anticipated as setup emerges, with 0.87200 being the next target for NZDCAD.
NZDCAD: Bullish Trend ContinuesNZDCAD has been experiencing a bullish trend on a 4-hour chart since late April, with the price establishing higher lows and following a steady upward trend line.
During the most recent trading session, the price reached a new high and closed higher, breaking through a short-term horizontal resistance level.
This indicates a strong presence of buyers and suggests a likely continuation of the bullish trend towards the next significant resistance level at 0.8500.
NZDCAD Long Breakout TradeNZDCAD Long Breakout Trade
1. Nice Momentum candles build-up
2. BUY/SELL indicator confirmation
3. Currency Strengh Meter confirmation
4. Trend Following Confirmation
5. Price above 3 MA's (20,50,200)
6. 2% Risk, 2:1 R:R
7. Possible Partials
8. Trailing stop based on ATR
9. 2 x daily ATR Stop Loss based
10. 7 Bars time-based stop loss if no reaction
11. Closing at break of structure/opposite signal
NZDCAD...DT Curve AnalysisBased on the 4D Chart
SLO @ 0.8393 ⏳
SSO @ 0.8345 ⏳
TP1 @ 0.8255
TP2 @ 0.8179
TP3 @ 0.8123
TP4 @ 0.8037
BLO1 @ 0.8016 ⏳
BLO2 @ 0.7966 ⏳
ADDITIONAL INFO:
⏱ It's prime time for a short BABY.
🤑 Get it while the getting is good.
This is an Intermediate Time Frame trade (4 hours to 6 day):
— Offers a clearer picture of the underlying trend compared to short-term frames.
— Provides more opportunities for confirmation signals and technical analysis.
— Allows for more flexible trading schedules, trades can be held overnight.
— Suitable for swing traders and some positional traders.
🔑
BLO = BUY LIMIT ORDER
DT = DOWNTREND
SLO = SELL LIMIT ORDER
SSO = SELL STOP ORDER
TP = TAKE PROFIT
NZDCADNZDCAD is in strong bearish trend.
As the market is consistently printing new LLs and LHs.
currently the market is retracing a bit to the last broken level, after last LL, which is a good Fib retracement level and local support as well. if the market successfully sustain this selling confluence the next leg lower could go for new LL.
What you guys think of this idea?
NZDCAD LONG Market Structure Bullish on HTF
Entry at Daily AOi
Weekly Rejection at AOi
Daily Rejection At AOi
Previous Daily Structure Point
Around Psychological Level 0.83500
H4 Candlestick rejection
No Rejection from Previous structure
Levels 4.32
Entry 75%
REMEMBER: Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Stay Hydrated
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DeGRAM | NZDCAD back into the ascending channelNZDCAD is moving between the trend lines in an ascending channel.
The price broke through the level coinciding with the 78.6% retracement level of the bearish momentum.
The chart successfully tested the lower boundary of the channel.
We expect the growth to continue.
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NZDCAD: Short Trade with Entry/SL/TP
NZDCAD
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short NZDCAD
Entry Point - 0.8397
Stop Loss - 0.8430
Take Profit - 0.8340
Our Risk - 1%
Start protection of your profits from lower levels
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