Nzdcadshort
NZDCAD - Great TradeExpecting further downside on this pair after breaking the previous significant structure. We are working with the small bear flag patterns that are being formed on the way down in the hope of a major downside move.
I have entered this trade because:
- The COT data is supporting our decision
- After viewing and analyzing CAD base pairs, I have come to the conclusion CAD could continue to strengthen against the NZD
- We are now trading below what was the previous significant structure, this level can be now used as a rejection zone for further continued downside.
NZD/CAD bears are going to break ascending channel💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
NZD/CAD has been inside ascending channel now for a while, but now price faces first major obstacle - weekly resistance line. We will wait for price to be outside of this channel before opening short positions.
Let us know what you think about this idea.
Trade safe !
NZDCAD short trade ideaPlan: trendline and support level breakout --> 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 a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NDZCAD - Nose DiveI am placing this sell limit order because I believe this pair will want to respect the descending channel. Now that we have broken the small ascending channel and have come back up to re-test the structure and the 0.618 Fib, I believe we will see a small downtrend emerge. The sell limit has been placed between to 0.618-0.786 Fib in an attempt to get a wick entry for maximum returns, if we don’t get this then we will simply leave the pair and focus on another. Another confluence we can work off of here is the 50 EMA on the 4-hour time frame, It has been broken and we are now coming up to re-test it. Fingers crossed we get the entry and results we are after, the confluences are there so let's hope for the best.
NZD/CAD descending channel on weekly chart💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
I will really appreciate any likes and follows, that would help grow this channel.
We can see that there is nice descending channel on weekly chart. Price is also approached MA 200. We expect price to drop from this point.
Let us know what you think about this idea.
Trade safe !