Bearish flag looks to be in play, looking to take a position on the breakdown. Clear and simple setup with great risk:reward. Happy trading
The New Zealand Dollar had a major downfall earlier this month, however price has built back up slowly but surely forming an uptrend. It has had two touches on the trendline that form a clean 'M' formation which I am looking to go short to complete. I am now waiting on a candlestick confirmation for pin-point entry.
NZDCAD is nearing a support area. If price can break through and close below the lower Bollinger Band, I will enter short. There is a strong Bollinger Band squeeze on the 4H time frame. RSI was recently overbought. TP levels set at fib retracement levels; 50%, 61,8% + 100%.
Traders, NZDCAD formed a bullish Wolfe Wave in the H4 time frame offering us a perfect buy set up. I suspect there will be a minor correction before a continued uptrend. However, price can ignore the correction and continue on its way up. Either way, this will be a good long for next week. Happy Holidays! Best, Chartistry
Will be a good short entry from 0.92600 and 0.92910. Good bearish trendy environment here and also price respecting the resistance and going down. This week if any rejection found from 0.92600 and 0.92910. W can go short targeting 0.90920. Happy Trading.
OPEC coming to a decision, limited oil Fib levels
NZDCAD seems to be inside of the Motive Wave 5 of the applied Elliott Wave Theory in this chart. It confirms both previous three Motive and Corrective Waves along with its confirmation by Fibonacci Retracements applied respectively and if the price moves up and breaches the end or the high of the Corrective Wave 4 around 0.94250 and continues a bullish trend, the...
NZDCAD nice confluence zone to short, back on structure again at 61.8 fib retracement and the trendline are still resistance. last reason we have a small AB=CD pattern in H1 at 1.618 ext
NZD/CAD has broken major trendline resistance at 0.9350, bias higher. The pair is at the time of writing holding above 0.94 handle after breaking 20-DMA resistance at 0.9382. The below mentioned technical indicators support further gains: - Stochs and RSI have rolled over from oversold and are biased higher. - MACD line shows a bullish crossover on signal...