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NZDCADANALYSIS

NZDCAD Daily Closes Finaly With A Bullish CandleStick Formation About 2 Weeks Ago NZDCAD Broke Out of Its Wedge Pattern At A Weekly Major Support (See Previous Posts On NZDCAD) Since Then We Have Had 2 Chances To Get In, 1st When It Broke Out 2nd Was At A Trend Line Break, Now We Have A 3rd One, The Daily Closed With A Bullish Engulfing Candlestick Formation (See Yellow Circle on The Candle) With A Counter Trend Line Break, And On The Lower Time Frames The Market Took Out Some Highs As Well, It Looks Like The Market Is Finally Ready For Take Off. We Also Have The RBNZD Rate Decision Coming Out Soon, Lets See How That Will Affect The Market.
Long
by ElyaStein
Second Chance To Buy NZDCAD After Pull Back With Full Body CloseThe Market On The 4 Hour Chart Just Closed With A Full Body Candlestick And A Counter Trend Line Break, This Comes After The Market Previously Broke Out of A Wedge Pattern As You Can See On The Chart. If You Look Back On My Previous Post You Will See That The Wedge Pattern Is At A weekly Major Support Outlined On The Chart With The Green zone. I was Already In From My Last Post But I Rentered Now After The Marked Pulled Back And Closed With A Counter Trend Line Break. This Does Not MEan At All That The MArket Must Now Go Up The MArket Might As Well Decide To Come Lower, But Even If It Does Im Still Very Confident That Overall The MArket Is Heading Up Higher. I hope You You Found Some Value In This Post, And If You Did Please Do So And Hit The Like Button, Like This I Know That People Enjoy And Understand What Im Posting. Thanks And Have A Great Day.... Easy Trading!! Elay Stein
Long
by ElyaStein
NZDCAD Is At A Weekly Support Good Place To BuyNZDCAD Weekly time frame is at a solid support level as you can see, the market have previously bounced off that area several times, it looks like the market is getting ready to do so now again with the market breaking some highs on the daily time frame, plus here on the weekly we can see the market has formed somewhat of a Bullish engulfing candle, on the daily time frame that was a breakout of a wedge pattern, on the daily the market looks like is going to retrace a little before heading home for short term. So now that we know that the market is going up, the question that comes up is to where is it going to, where should we look to take our profits, that why I lined out the green Pivot Point line that could be a potential stop but ultimately the market can go all the way up to the Down trend Line as lined out in the chart, so at the pivot point I will watch closely what the market is doing, I will probably take profits at the pivot point and if im able to get another low price I might buy it again and take it all the way up to the Trend Line... I hope you found some value in this trade setup!!
Long
by ElyaStein
NZDCAD Breaks Out From Wedge And Past Highs NZDCAD weekly Time frame is at a major support, the Daily Time Frame formed a wedge pattern and now the market broke out of it with a full body candle, and the last candle toke out already some more highs, I believe this has a lot of potentials to go Bullish, I see there is a past support to become future resistance in around 150 pips (see the green dotted line) I will probably be taking profit at that area unless I see the market is still going strong with full body candles I might take it to the down trend line. Reason For Entry: 1)Weekly Strong Resistance 2)Daily Wedge Breakout With Full Body Close 3) Market Already Making Higher Highs
Long
by ElyaStein