CADNZD trade ideas
NZDCAD 4hrit made a head and shoulders pattern on the weekly it's finishing the right shoulder with a symmetrical triangle pattern.
SHORTTHIS IS THE TRADE I TAKE FEW HOURS AGO... THIS IS AN INTERESTING ANALYSIS THAT'S WHY IM SHARING THIS WITH YOU ALL. AS YOU CAN SEE THE RANGE IS BROKEN AND MARKET WAS GOING DOWN SHARPLY... SO I WAS LOOKING FOR A PULLBACK AND DURING PULLBACK THERES A DIGESTION PROCESS GOING ON(in 3 min. timeframe) AND AFTER THE DIGESTION PROCESS IS OVER I WAS LOOKING FOR A SMALL RANGE AND THERE IT IS. AND AS YOU CAN SEE SHORT POSITION WHERE I ENTERED BUT I EXIT AT 0.88653 LEVEL.
BULL FLAG - LONGPrice is forming a bull flag pattern.
Hence looking to enter LONG after completely forming the bull flag pattern
Bear Flag - SellLong term trend - LONG (Soon to change direction to short)
Current trend - SHORT
Nature - CORRECTIVE PHASE
Pattern - BEAR FLAG
Stoploss - 50 pips
Risk: Reward - 1:4
Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.895). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.8858
TP2= @ 0.8795
TP3= @ 0.8745
TP4= @ 0.8685
TP5= @ 0.8590
SL: Break Above R2
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NZD/CAD Bearish Currency of the week!OANDA:NZDCAD
This chart has a beautiful confluence across the Weekly, Daily & 4-Hour time frames.
The price has respected the trend line on the weekly chart since 2016! With less than 4 hours to close the week, it's rejecting the 200 EMA and is likely to close below the trend line with a Doji .
On the daily chart , we see that the price has not been able to breach the 0.89400 level. On 22nd July we got a Gravestone Doji followed by a negative covering candle.
On the 4-hour time frame, the price has given us a breakdown below the 13 EMA . Now it is taking support from the trend line below.
Our idea is to enter a short trade in the 4-hour time frame once the price breaks below this trend line with TP1 at 0.87300 and trail the stop loss until we get TP2 at 0.83000 in the next few sessions.
P.S. I am keeping the analysis simple with minimal drawings and indicators! Will really appreciate any comments, feedback, suggestions, etc! :)
NZDCAD in the side ways movement NZDCAD is in the side ways movement , this is perfect way to trade positionally , and earn the points in this segment. many days this is going in sideways , with full support and resistance. trade hopefully. thanks.
Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.876). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.8715
TP2= @ 0.8685
TP3= @ 0.8620
TP4= @ 0.8570
TP5= @ 0.8530
SL: Break Above R2
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. . . . . Please show your support back,
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❤️ Your Support is very much 🙏 appreciated! ❤️
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Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
NZDCAD - Rising WedgePrice has correctibely reached the key level area and formed a rising wedge pattern.
Its has also formed a pattern- within- pattern of rising wedge formation even on a 15m TF to get a better entry with a higher risk to reward.
Forecasting it to go short to the minimum of TP -1 and the maximum of TP -2
Giving us a R:R of 4.11% in just 1 trade.
As the trade continues in our direction will be looking to scaling in to add in more profit %
NZDCAD GARTLEY pattern on 1 hr chart. Hello Trader, Here is the full analysis on NZDCAD
1) On 1hr chart we can see it as formed gartley pattern and possible reversal expected.
2) Price is moving toward strong resistance zone and can test this zone for up move and if it fails then on basis of gartley and strong resistance one can look for short.
How can you support me:
1) Like my idea.
2) Follow me for more analysis
3) I will Opening Telegram and instagram channels soon.
Feedback:
Please share your feedback in comments and this will help me to improve my drawing and analysis .
Bearish?I've taken a trade here. let's see how it goes. the marked grey boxes are my targets.
I'll update this idea in a while.
Also, what do you want me to analyse, let me know in the comments!!
