NZDCAD
NZDCAD,🔴Sell opportunity🔴
As you can see the price swept the liquidity above the previous daily high and created the FVG.
Now we can expect the price to reach the bearish order book and we can enter the sell position with LTF confirmation.
💡Wait for the update!
🗓️30/01/2024
🔎 DYOR
💌It is my honor to share your comments with me💌
NZDCAD - Keep It Simple 👌Hello TradingView Family / Fellow Traders,
On Daily: Left Chart
NZDCAD broke below a previous major low so it is now acting as a local resistance zone, thus we will be looking for trend-following sell setups on lower timeframes.
On H1: Right Chart
📈 For the bears to take over, we need a momentum candle close below the last major low in gray.
📉 Meanwhile, until the bears take over, NZDCAD can still trade higher for an over-extended correction movement.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
NZDCAD Is Bullish! Long!
Please, check our technical outlook for NZDCAD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.824.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.831 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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#NZDCAD: 500+ bullish buying opportunity! Swing TradingDear Traders,
We have a great opportunity on NZDCAD , please wait for price to come and bounce at our area of entry. Price already have breakthrough the bearish strong trendline meaning price have changed the character for the first time since months. Now price that has not yet re-confirmed that price can continue the bullish trend and we can have a swing trade taken.
Please wait for price to do its thing, do not rush. Patience pays!
NZDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDCAD for a selling opportunity around 0.82300 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.82300 support and resistance area.
Trade safe, Joe.
NZDCAD Will Go Up! Long!
Here is our detailed technical review for NZDCAD.
Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 0.827.
The above observations make me that the market will inevitably achieve 0.831 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NZDCAD - Range BreakoutNZDCAD has been ranging since December 2023. More specifically, this range formed in early December (of 2023) when price failed to form a new higher high.
I've been monitoring this pair on and off. While I have observed previous fake breakouts, or fakeouts, I would say the confidence level that this latest breakout holds is much higher.
This comes down to one simple reason - today's close. The bearish bar was strong and cleanly closed below the lower range boundary.
NZDCAD Technical Analysis! SELL!
My dear subscribers,
My technical analysis for NZDCAD is below:
The price is coiling around a solid key level - 0.8366
Bias - Bearish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8343
My Stop Loss - 0.8378
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
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WISH YOU ALL LUCK
7 Dimension Trade Idea for NZDCAD😇 7 Dimension Analysis
Time Frame: H4
1️⃣ Swing Structure: Bullish
🟢 Structure Behavior: Breakout of Structure (BoS); Current market is in a sideways mood
🟢 Swing Move: Impulsive to sideways
🟢 Inducement: Done
🟢 Decisional OB: Mitigated, but discount area liquidity is unmitigated yet
🟢 Support: Holds the price for the 4th time, indicating strong demand
🟢 Trendline: Buildup, prebreak, and a potential spike for tapping extreme areas
🟢 Time Frame Confluence: H4, Daily, and Weekly
2️⃣ Pattern
🟢 CHART PATTERNS: Reversal, Rounding Patterns, Cup and Handle at both daily and H4 with strengthening buildup. Consolidation Rectangle makes this area interesting and demanding.
🟢 CANDLE PATTERNS: In this highly consolidated zone, no candlestick pattern is effective. Watch and wait until breakout, then analyze candle behavior at breakout levels.
🟢 Volume: High volume throughout consolidation indicates bull dominance. Watch for volume on breakout or fakeouts for a final decision.
4️⃣ Momentum RSI
🟢 Momentum: Totally sideways
5️⃣ Volatility Bollinger Bands
🟢 Volatility: Highly contracted
6️⃣ Strength According to ROC
🟢 Values: NZD is stronger than CAD
💡 Decision: Wait till breakout or fakeout, but in both scenarios, consider buy positions
🚀 Entry: Breakout at 0.8418 / Fakeout at 8292
✋ Stop Loss: Breakout at 0.8383 / Fakeout at 8275
🎯 Take Profit: 0.8978
2nd Exit if Internal Structure changes; also Exit on 3rd trendline breakout, FOMO
😊 Risk to Reward Ratio: 20
🕛 Expected Duration: 50 days
📚 SUMMARY: The analysis points to a bullish trend with a strong consolidation zone. Breakout or fakeout opportunities are highlighted, emphasizing a buy strategy. The risk-to-reward ratio is favorable, and a patient approach is recommended until decisive market movements occur.
NZDCAD Is Very Bearish! Short!
Please, check our technical outlook for NZDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 0.833.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 0.832 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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NZDCAD Potential UpsidesGreetings Traders,
In tomorrow's trading session, our focus is on NZDCAD as we actively monitor a potential buying opportunity around the 0.83400 zone. Riding an uptrend, NZDCAD showcases a sustained upward trajectory, indicating favorable market dynamics. Simultaneously, the currency pair is navigating a correction phase, gradually converging towards the trend at the critical 0.83400 support zone. This numerical level holds significance as a historical support point, presenting an opportune moment for traders to assess potential entry points aligned with the prevailing uptrend.
As traders prepare for tomorrow's session, strategic considerations should involve a meticulous evaluation of optimal entry points within the identified 0.83400 support zone. Aligning trading decisions with the ongoing uptrend and the potential market dynamics at this critical support zone is essential. The convergence of the correction phase with historical support further enhances the appeal of NZDCAD as a buying opportunity.