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Nzdcadshort

NZDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 06 Oct M > Market is moving in a downward channel, price dropped from resistance level of the channel completing the W formation. W > Price dropped to test monthly support, faced rejection and moved to test weekly resistance. Price also has support of rising trendline. D > We can see formation of H & S pattern, hence we can expect bearish movement. As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. 4H > Price is creating LH and LL in its bearish trend, price needs to break 4H support level to confirm bearish trend. We expect drop till support trendline. Pair Correlation > NZDCAD has positive correlation with NZDCHF and AUDCAD and negative correlation with EURNZD and GBPNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
1
NZD/CAD New Setup To Catch More Than 150 Pips As We See We Have This Head And Shoulders Pattern And The Price Close Below Neckline And Now We Can Enter A Sell Trade After Retest For Neckline And Have Any Bearish Price Action To Confirm . This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Short
by FX_Elite_Club
NZDCAD - Head and Shoulders Pattern There is a nice Head and Shoulders Pattern setting up here on NZDCAD. There would be a nice location for stops right above the left shoulder and on the right shoulder retest we have a Double Top setting up as well with Bearish Divergence. If you want to wait for a confirmation you can wait for the neckline to break and then get involved on a retest and pullback. Depending on how aggressive you are with targets you can get a very good risk reward on this one with either a retest of the neck level or shooting lower. If you are looking for targets at the lower level of structure we have a 1.618 Fibonacci extension from the Head to the Neck which gives us confluence at this target location. -Raymond Jeffries
Short
by Raymond_Jeffries
NZDCAD: Bearish strength seems to restrict BULLISH climb!!!After an important rejection off a strong resistance zone at around 0.8840, we start to see multiple failed attempts for NZDCAD to break out of this resistance zone and move up higher. I will be seeing movement below the Ichimoku cloud as of now, with BEARISH strength building up. The strong support level @0.8795 will potentially be broken, becoming a strong resistance level for the BEARISH movement. With that, I see price moving towards the next strong support level @0.8690. As of now, BEARISH has a high chance of taking over from here. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
Elliot Wave: NZDCAD Bearish Continuation SetupSupport this analysis with your likes and comments! This is an update on the previous Daily setup shared a few weeks ago. NZDCAD reversed and broke the S&R zone and ascending trendline impulsively in wave i. According to Elliot Wave theory, impulse move is always followed by a three-wave correction. In NZDCAD's case, the short-term rally is currently taking the shape of a-b-c zigzag pattern in wave ii. Price is contained within a parallel channel and also retesting a significant supply zone. While the retracement can entends to a complex corrective structure, we can take a short entry from the current market level as long as the protective stop is placed at the major invalidation level which is the red line on the chart. Price has the potential to move downwards towards wave (a) low in wave iii of (c). The break of the green lines can be used as a conservative entry. The major invalidation level is the red line on the chart. What's your view on NZDCAD? Let me know in the comment. Thanks for reading! Veejahbee.
Short
by Veejahbee
NZDCAD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
NZDCAD - SWING - 22. SEPT. 2020Welcome to our weekly trade setup ( NZDCAD )! - 1 HOUR Sideways market structure around main sr level. 4 HOUR Price looks like we might see a strong drop shortly.. DAILY Good short positions, overall bearish looking market. - FOREX SWING SELL NZDCAD ENTRY LEVEL @ 0.88760 SL @ 0.89320 TP @ 0.87950 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
65