Waiting for more rejection before entering a LONG position. Price will probably re-test Fibo 0.5 level. Warning, price can also be attracted by SMA200 and 0.61 Fibo that match with round number 0,9000. Following days will be crucial. Keep an eye on it. Cheers, MT
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...
NZDCAD made a reversal from its short term trend, also this level is close to long term up trends support line. BULLish pressure is active on this currency and target is 0.95 levels.
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....
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....
Hello followers and fellow traders. Looking on the NZD/CAD 4 hour chart today and came across a nice harmonic pattern that is forming. A bullish bat pattern if you will! Have laid out TP1 and TP2 for anyone whom would like to take the trade with me. Best of luck and trade on your own judgements. Star Prosper Philip Stewart
Kumo levels are more effective for break out compare to price action , New low our of Kumo RES ( RED BOX ) will continue to 52 and 63 %
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
NZDCAD SHORT AT DOUBLE TOP AND BEARISH DIVERGENCE
I prefer seeing bearish divergence But if I get a trend line break, I will short NZDCAD to the M Pivot @ 0.8980