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Nzdcadshort

NZDCAD: The price is RE-TESTING an interesting S/R zoneHi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : NZD/CAD ⚪ Technical Analysis : During the 20th of January 2021, the price got a strong bullish impulse on the main S/R zone at about 0.90500, moving up beginning an interesting ascending channel, many bounces on its dynamic lines are a confirmation of the channel's validity. On the 9th of February 2021, the price ended its uptrend on the level at about 0.92250, failing the attempt to reach one more time its dynamic resistance line, falling down breaking through its channel, re-testing with a pullback the same level. As we can see in the H4 chart, the price got many rejections on the current strong area at about 0.91500, and considering the weakness of this market, there is a possibility to see an upcoming bearish moviment. 🔴 Conclusion : I'm confident to see the price getting an interesting retracement, considering the following reasons: - In the weekly chart, the price is moving with high volatility, closing the session with a strong bearish pinbar; Since March it's following a clear uptrend and many rejections on the level 0.92000 are a possible sign of retracement. - In the daily perspective the price is consolidating since the 25th of January 2021; - In the h4 chart, the price got an interesting pullback on its channel, and it currently re-testing the S/R zone at about 0.91500 and its EMA 200. I'll be waiting for a proper breakout before planning my short position on this trade, my target would be the main trendline at the level at about 0.90800 Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
21
NZDCAD – Waiting for the completion BIG ascending structureI have been waiting for NZDCAD to make big bearish move to the downside for quite sometime no. But it seems, starting from last November the price lack any real commitment. It just continuing its corrective phase resulting in sideway and choppy movement across all timeframes. However, now I’m starting to see cleary the evolution of the market structure in this pair. This pair is forming a 3 touch ascending structure in an even bigger ascending structure. Ussually, a pattern within a pattern like this is a big positive confluence for our edge,.. So,..i’m still confident that this pair has a very high probability for a longer term bearish move soon.. What I’m waitin for now is for the price to finish its 3rd touch to complete its ascending structure. So, I think this pair will make one last push to the upside to 0.92700-0.92300 area. Once the price has reach the area, I will wait for a clearly visible impulsive rejection from that area. Any break of bearish continuation pattern in lower TF will confirm the bearish move that I certainly will make sure to take advantage of. For now, let’s see how will this pair develop, good luck.. __________________________________________________________________________________________________________________________________________________________ Here is the MOA FX technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger. __________________________________________________________________________________________________________________________________________________________________
Short
by moa_trading_journal
NZDCAD: Be ready to SHORT on this Opportunity!Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : NZD/CAD ⚪ Technical Analysis : Since November 2020, the price has been following an interesting trendline, bouncing on it many times during the last few months. Once it reached the main resistance zone at about 0.92500 on the 6th of January 2020, it just quickly and heavily collapsed back to its main trendline, getting then, a strong trend correction. It has currently re-testing the S/R zone at about 0.91500 and the next price action on this area will be essential to understand the next market movement. 🔴 Conclusion : The last bullish impulse wasn't able to break the 0.92000 level and it could be a nice sign of market weakness. I'll be waiting for more sessions to understand properly the next direction but I'm currently confident to see the price falling down until the main trendline. I'll update this idea with a clear Signal as soon as we'll get a clear rejection on that level. Stay tuned for Updates and Trading Signals ! What's your opinion? Share your
Short
by FXtrades-gp
8