Textbook Bear Trap in EurNzd pair. This pair rejected 1.50 very strongly, and moved up to 1.55. We are now seeing a corrective move for the first bullish leg. I am looking for continuation and a second bullish upmove. Long @ 1.5345 Stop 1.5320 Limit 1.5825 If the stop is going to be taken out, i will be looking for a second more conservative entry opportunity.
Hello Traders, $NZDCAD is currently in a strong uptrend with no plans of reversing any time soon. However, looking at the overall structure, we can clearly see a Bearish Geo formation. To define points 5, 5', and 5" I always look for the completion of an AB=CD pattern. This is usually a good indicator or where price will reverse in the GEO'. The lines in red...
Thoroughly, I don't see anything slowing down NZD. A lot of strength overall in the economy. I am long term bullish on this pair. I do believe in time we can hit a target of ~.77( a risk reward of 1:6.3) but for now, I am long for the more recent coming target of about ~.74.80. I am long for the double bottom and break of the descending trend line. -Risk Reward:...
Either It bounce here to create left shoulder or waterfall by breaking green wedge. Target is to be in zone of 0.68500-0.69000. Happy Trading Jai Hind
1) Double top formed @ Daily resistance @ 109523 zone 2) Downside shifts in MA's 3) Previous/ most recent daily candle closed below resistance level @ 1.84228 zone, if zone holds + next daily candle close below zone will warrant further shorts. 4) Target 1 @ 1.80041 5) Target 2 @ 1.76786 = Daily support zone giving extra confluence
NZDUSD formed an elementary reversal setup, the price went up very quickly after somehow bad data from US, hit the resistance area and got pulled back. You can see the upper wicks indicating, that sellers were fighting back and gaining more control, thus we may see a really nice reversal at the beginning of the week.
From what I see, two spinning tops formed at the bottom of what could be the neckline of a potential head and shoulders formation, indicating there may be a reversal of direction. I am waiting on some more bullish confirmation from the daily chart however you may find some good long opportunities on a shorter timeframe. Good luck and please trade at your own discretion.
This pair went all the way down nicely to the support area and the indecision candle formed at the end of the week. This area has been tested several times before, but NZD/USD is in major uptrend right now, plus, the bottom wicks and the placement of indecision candle (the Friday one) are indicating that Bulls're taking control, so I'll aim for opening long...
Bottom of Channel Price Entry Price: 0.70500 Target Price:0.68000 SL : 0.71500
Long EURNZD at C wave to make another impulse up, a bigger impulsive 3rd wave up. Multiple targets at trendlines.
Taking a long position on this pair based on the following reasons: - Break and retest of key 0.70 level - 0.5 fib level held strong - Double bottom Let's see how this turns out!
NZDUSD Short - 30 m timeframe, break and retest of structure
EURNZD breakout levels based on manual S/R drawing, I consider 2nd breakout as possible entry for me. I welcome your comments and thoughts about this! Learn Forex from a PRO Mentor every day: www.IMLFX.club