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NZDCAD trade ideas

NZDCAD - AB=CD PatternNZDCAD has been trading in a strong Bullish Trend. After a short period of retracement at the 0.81720 price level, the Bullish run has continued. Following the strong Bullish run, the price action has formed an AB=CD pattern, following which strong divergence has been observed on the RSI on the 1 hour timeframe and a Double Top pattern has emerged, hinting a strong reversal into a Bearish trend, if the price breaks the 0.82001 level. Trade Plan: Short Entry: 0.81975 SL: 0.82452 TP1: 0.81500 TP2: 0.81020
Short
by WaqasWasi
CADNZD - Potential Bullish Reversal CADNZD is showing signs of a potential bullish reversal based on the formation of a Bullish Bat Harmonic Pattern (XABCD) with Point D coinciding with a Potential Reversal Zone (PRZ). This zone is further supported by key factors including a significant support area, a 4-hour trend line, and a bullish divergence on the RSI indicator. Bullish Bat Harmonic Pattern: The Bullish Bat Harmonic Pattern (XABCD) is a technical pattern indicating a potential reversal in the price trend. In this case, the completion point (Point D) aligns with other technical factors, increasing the probability of a bullish reversal. Potential Reversal Zone (PRZ): Point D serves as the Potential Reversal Zone (PRZ) where traders anticipate a shift in market direction. This zone is reinforced by the convergence of multiple technical indicators, strengthening the bullish bias. Key Support Area and Trend Line: The presence of a key support area and a 4-hour trend line further validates the potential reversal at Point D. These levels act as additional support for the bullish outlook, suggesting a favorable risk-reward scenario for long positions. Bullish Divergence on RSI: The bullish divergence on the RSI indicator provides further confirmation of the impending bullish reversal. This divergence indicates that despite downward price movement, the momentum is shifting in favor of the bulls, supporting the bullish scenario. Trade Setup: Entry: 1.2170 Stop Loss: 1.2110 Take Profit Levels: TP-1: 1.2230 TP-2: 1.2287 TP-3: 1.2340 Conclusion: Based on the analysis, a bullish bias is suggested for CADNZD, with a potential entry at 1.2170 targeting the specified take profit levels. Traders should closely monitor price action at Point D and manage risk accordingly.
Long
by trading_jupiter
NZDCAD | MT Long H4 | Milk Economy Over Oil Economy? Pair: FX:NZDCAD Timeframe: H4 - Medium Term (MT) Direction: Long Technical Confluences for Trade: - Stochastics are in Oversold Conditions on D1, H4 and H1 time-frames - Price action is at a resistance trendline & also a horizontal trendline (Demand zone) - Price is between the 61.8 - 78.6% Fibo retracement - Aiming for the 38.2% Fibo Retracement which is also a supply zone. Fundamental Confluences for Trade: - Very different economies with market data gyration will pretty much determine the direction of this trade. Suggested Trade: Entry @ Area of Interest 0.8070 - 0.8100 SL @ 0.8021 TP 1 @ 0.8155 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8223 Risk-to-Reward @ Approx. 2.27 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Long
by weekendanalyst
2
NZDCAD | Long H4 | Buy Limit | Milk/Oil Economy - 2nd EntryTechnical Confluences for Trade: - Stochastics are in Oversold Conditions on H1 & H4 time-frame - Price action is close to a Demand Zone (Yellow Area) & has Support Trendlines around - Aiming for the next Consolidation Zone of Price Actions Fundamental Confluences for Trade: - Very different economies with market data gyration will pretty much determine the direction of this trade. Suggested Trade: Buy Limit @ 0.8098 SL @ 0.8051 TP 1 @ 0.8150 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 0.8213 Risk-to-Reward @ Approx. 2.40 (Depending on Entry Level) ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. Any websites / brokers / applications suggested here are also provided as informational purpose only. ________________________________
Long
by weekendanalyst
NZDCAD Trading Opportunity! SELL! My dear subscribers, My technical analysis for NZDCAD is below: The price is coiling around a solid key level - 0.8170 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 0.8149 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2