- Closed above a key level (indicating a good level of support).
- Recently created a HIGHER LOW.
- Dragonfly & Bullish Engulfing formed over the last few days.
- 20 EMA just below price.
(High impact AUD news tomorrow may have close correlation with NZD price action)
Here we have one of my personal trades from last night. We originally had a position but got stopped out on the liquidity spike as you can see. If you don't know what liquidity is, it is basically where the banks can manipulate the price for a split second to stop out everyone and also stop out all the orders people have the for SELL STOP's. The banks can see...
We have finally broken out of the descending channel on NZDCAD, we need to see a pullback into structure and rejections to confirm the breakout before looking for long opportunities. I highly recommend keeping this one on your watchlist.
According to COT Data - 60% long
Although we are currently in a down-trending market my custom indicator has signaled me a buy. I have illustrated where I expect price to reach before we see signs of any rejection, let's see how this one plays out.
Expecting further downside on this pair after breaking the previous significant structure. We are working with the small bear flag patterns that are being formed on the way down in the hope of a major downside move.
I have entered this trade because:
- The COT data is supporting our decision
- After viewing and analyzing CAD base pairs, I have come to the...
NZDCAD might be giving a morning star candle formation. Waiting for the close of the present 4 hour candle before making the decision to enter a long position, or not. TP=0.89373, Risk to reward is about 1:4
As you can see, last week price closed strongly above a key reversal zone at around 0.87626 indicating it could be ready to push up further towards the 0.78 Fib level before we see that big swing lower we have been waiting for. Due to the strength this pair is showing me i am attempting to catch the continuation of the momentum up towards the descending trendline...