Looks like it is against a big resistance again. On the right, as long as we stay below that red resistance, it suggests the high is already set as well. I am going to do 2 trades here, a scalp (chart on the right) and a day/swing trade. Both different stops but almost the same. Both have a good R/R, especially the bigger trade so worth the risk at this...
NZDCAD is approaching our first support at 0.9003 (horizontal overlap support, 50%, 100% Fibonacci extension) where we might see a corresponding bounce in price to our major resistance at 0.9094 (horizontal swing high resistance, 50% Fibonacci retracement). Stochastic (34,5,3) is also seeing a bullish divergence and is approaching support where we might see a...
NZDCAD reversed off its resistance at 0.9119 (100% Fibonacci extension ,61.8% Fibonacci retracement , horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 0.0.8984 (61.8% Fibonacci retracement ,61.8% Fibonacci extension ). Stochastic (55,5,3) is also reversing off its resistance and we might see a...
NZDCAD bounced nicely off its support at 0.9052 (horizontal overlap support, 61.8% fibonacci extension , 61.8% fibonacci retracement ) where it could potentially bounce to its resistance at 0.9122 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement ). Stochastic (21, 5, 3) is bounced off its support where a corresponding...
Expecting NZDCAD to meet the S/R again and from there we will see if it bounces and creates a new Higher Low and continues the bullish trend or if it comes back down to the consolidation area where it's been for a month
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
NZDCAD is approaching our first support at 0.8921 (horizontal swing low support, 38.2% fiboancci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 0.8994 (horizontal swing high resistance, 38.2% fiboancci retracement). Stochastic (89,5,3) is approaching support and we might see a...
NZDCAD is approaching our first resistance at 0.9012 (horizontal pullback resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.8974 (Horizontal pullback support, 50% Fibonacci retracement). Stochastic (55, 5, 3) is also approaching resistance and we might see...
NZDCAD is approaching our first resistance at 0.9006 (Horizontal overlap resistance, 61.8% Fibonacci extension , 38.2% Fibonacci retracement ) and a strong drop might occur pushing price down to our major support at 0.8955 (78.6% Fibonacci retracement ). Ichimoku Cloud is also showing bearish cloud and we might see a corresponding drop in price. Trading CFDs on...
lets see what happens. top box is a daily support zone. bottom box is a double fibonacci method to stop potential reversal zones. Price is likely to make wicks to these zones. Fib zones are the best place to enter.
NZDCAD has the potential to sell 200-500pips more
Overall On week 5 CAD is dominant against all NZD was one of the weakest by heat meter. Therefore I will short NZDCAD for week 6-7 Weekly Upward move with slight pullback now. Daily Sideway move, range 4H Upward move, but sellers market signs 1H Open SHORT ENTRY 0.90350 SL 0.91500 TP 0.87714 RR 2.35
We are looking for down move on NZDCAD ... Trade with care
Potential short position soon @ .92464 which would form a double top on the weekly trend daily tdi looks almost oversold
Buy Opportunities As explained yesterday's live trading session, we were waiting for price to close above consolidation on the 1H & 4H timeframe. Price has confirmed that movement. We now wait for pullbacks and signs of a reversal to take price to 0.91625. View the chart for more detail. Please wait sellers' exhaustion which is typically show by wicks...
The previous trade went through the stop today, but now when looking at it, it's also not breaking up. It has formed a bearish wedge and it is still below that red resistance zone on the left. Therefore i am going to short it again. I will close 30% around the yellow circle, will move stop to entry as well when we close in on that target and i will let the rest...
Strong rejection on 4hr chart, should form a double top, target is just above the 0.38 fib level.