FX:NZDCAD
Let's see if the opportunity does not fade between fingers...
With a cluster/projection below the expected entry point, i'm expecting the price to pullback;
I'm waiting for the structure to show me what this pair have prepared;
If that does not happen, I am out.
We'll see... patience.
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POSSIBLE SHORT ON THE DAILY TIMEFRAME WITH THE NZDCAD PAIR, THE PAIR HAS REACHED A PREVIOUS SUPPORT AND RESISTANCE LEVEL THAT NOW IS ACTING AS RESISTANCE, THIS MIGHT CREATE A MOVE TO THE DOWNSIDE REACHING THE B POINT OF A POSSIBLE ABCD PATTERN AT 0.8750 OR THE D LEVEL AT THE 0.8400 PRICE LINE.
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i will be shorting this from current level or at the area marked on the chart. This is based on bearish butterfly (not an exact ratios as per book but i m considering this as butterfly) and Clones 50 percent reversal.
Targets are the Clone Levels in drawn as horizontal lines and stop near the black dash line on chart. .
NZDCAD is trapped in 100 pip range 1.88 - 1.89 above inner trendline . A break bellow 0.87500 would lead to bullish bat completion, break of 1.89300 would lead above 0.90
FX:NZDCAD
With a nice fall from previous structure, i stil bearish with this pair.
I believe the price action forged an ABCDE pattern and i can only imagine the price to forge a new lower low;
At the same time, the price reached the 161% extension of "wave 1" completing wave 3, we can expect a wave 4 to complete above this recent "ABCDE" pattern, and to get...
NZDCAD Buy Idea
After breaking the Yellow TL this pair created a bullish convergence. We want to see at least a two wave pullback in order to long this pair.
TP1 0.89
TP2 0.90
SL 2 pips + spread below last low 1.8745
Good morning traders,
I´m entering short at MKT with SL above 0.909
It formed 3 lower highs and price is below Ichimoku cloud
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6 Trading Rules :
1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist,...
NZD/CAD is holding above strong trendline support at 0.8778, breaks below could see test of 0.8710.
Weekly charts show that downtrend for the pair is intact and we see scope for tests of 85.85 in the medium-term.
Technical indicators on daily charts are biased lower, Stochs and RSI convergence seen with price action.
On the fundamental side, analysts feel oil...
