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NZDCADSIGNAL

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
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