NZDCAD Short-term buy and break-out levels
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The NZDCAD pair has been following a very specific trading pattern which we have outlined since June and has given us excellent trades:
As you see the key here is a recurring bearish sequence within this Channel Down. As long as the 1D MA50 (blue trend-line) is intact as the Resistance, expect Lower Lows within the Channel. Right now, with the 1D RSI breaching the 30.000 oversold barrier and rebounding, we expect at least a short-term rise, as it happened with all 4 other occurrences since March 24 2021. The target is slightly lower than the 1D MA50.
If the 1D MA50 breaks, we will consider this a bullish break-out signal targeting the top of the Channel Down and the 1D MA200 (orange trend-line).
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You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
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The NZDCAD pair has been following a very specific trading pattern which we have outlined since June and has given us excellent trades:
As you see the key here is a recurring bearish sequence within this Channel Down. As long as the 1D MA50 (blue trend-line) is intact as the Resistance, expect Lower Lows within the Channel. Right now, with the 1D RSI breaching the 30.000 oversold barrier and rebounding, we expect at least a short-term rise, as it happened with all 4 other occurrences since March 24 2021. The target is slightly lower than the 1D MA50.
If the 1D MA50 breaks, we will consider this a bullish break-out signal targeting the top of the Channel Down and the 1D MA200 (orange trend-line).
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You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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