Analysis on chart, simple. We can go long on 50% retracement of today's bar from open to high. Stop at the open or at the mode below: 0.65762. Rgmov confirms the trade, it broke out of a long term downtrend trendline and bottomed ahead of price. Nice CCI divergence and higher momentum than previous peak, implying this rally is sharper than the declines...
Friends, TRADE PREPARATION: As some of you might know, I post some of the preliminary studies in my little "atelier" where I analyze Forex pairs, indices, stocks, ETFs - Here is the link for your review (I do not really take request, and I don't do much of a job answering questions, since I consider that space a "basement-level of activity" - Still, there is...
The USDCAD pauses as crude gains over 20 percent from the recent lows, while having the best three-day gain in nearly 30 years. Upward momentum in crude prices will help the Canadian dollar rebound slightly, but the fundamentals still remain bearish. In all reality, $47 per barrel will not rid the bearish fundamentals within the energy space. While keeping it...
The oil having reached 40, might be the catalyst for this pairs second leg down after testing the 20EMA, Trendline, the 38 fib AND previous support turned resistance. I will keep a close look on the daily chart for a chance to sell this pair
In depth technical analysis on NZDCAD - My outlook is bullish on this pair
I like to go short, I find the best trades I take are shorts, not sure why, but it's true. Here we have 3 short opportunities, which are linked by correlations. The NZDCAD ratio chart, or exotic pair if you want to call it that is offering us a nice trend continuation opportunity. I will use this as a way to hedge my exposure to a more aggressive and more of a...
Idea is based on median line analysis. Info is on the chart, good luck.
A PIN BAR HAS FORMED ON THE H4 CHART. STRONG DOWN TREND ON THE DAILY CHART. FALLING TREND LINE TAKE PROFIT IS SET TO HALF MY POSITION AS I THINK THERE COULD BE ROOM FOR POSSIBLE FURTHER DOWNWARD MOVEMENT. STOP WOULD BE MOVED TO BREAK EVEN.
As you can see price broke the trend. you can see my old nzdcad ideas, and you will see how i trade this pair. I have been only selling since last top. this could be the started of the down trend. lets get some pips. what do you think??
NZDCAD has been in a weekly uptrend since its market intruduction, will the trend line be intact? For restrictive swingers we do NOT look to go long until we break 4H trendline with a Norse style(EMA12/36 cross over and new higher low) confirmation. Intraday traders can look to enter in smaller time frame (M5-M15) to find Norse Style entries. Rember: 1)Entry...
as you can see i am short since the last top. The pair have been bullish since 4 years ago. not because of the strength of the NZD but for the weakness of the CAD. you can see the pair didnt make a high higher so the up trend is getting weak. Theres is a posible formation of a double top pattern. Any ways the price should go to the trend line. is a good trade,...
- Strong previous support level - Retraced off a key fib level (0.764) - Decent risk/reward ratio of above 2:1 - Showing signs of reversal due to bullish candle with a long wick. - Will wait for price to break the next fib level (0.618) for confirmation that price will continue north. - Will bring stop loss to break even when price reaches at least 90% of target...
Background geometry completed at Point-5 but posted an ectopic Point-5 as Point-5-prime (5'). As this adverse geometric excursion resolved, price continued to decline first via a complex series of corrective coiling, and of late into a sustained impulse. The geometry is illustrating two distinct geomtric targets via its 1-4 Line. A rudimentary one is defined at...
At the beginning of the month, I wrote about a potential double top on the NZDCAD cross (in French : bit.ly). It's way too early to confirm, but the recent weakness in the NZD suggests that the kiwi dollar may continue to lose ground while the CAD benefits from the bounce in oil prices as well as the rise in inflation in Canada. There is a big risk ahead with the...
SCENARIO 1: Last time we hit 0.960 was in March of 2014. The downside move had massive follow-through. However this time around we hit 0.960 and had little follow-through respecting the ascending trendline as support once again and price looks as if it wants to test 0.960 once more. A strong psychological level of 0.960 acting as resistance paired with the Dec....
Current Sentiment: Bullish Pending Technical Score (PTS) Direction with trend: +2 SnR Confluence: +2 Trendline Confluence: +2 127 Harmonic Confluence: 0 Total: 6/8 Place pending order. I would love to hear your opinion, feel free to comment, agree or disagree....
A simple structure trade, nothing fancy, good risk to reward ratio. Stops and Targets put in place according to the trading plan, waiting to see how this one turns out. Star Prosper Philip Stewart