BUY: 0.66089 SL: 0.66473 TP: 0.65451 Risk/Reward: 1.66
NZDCAD has a bearish convergence on the H4 chart, what we need now is a retrace in order to join the sells. Therefore we go to the lower TF and try to sell when price is bouncing on the red TL. Sell after a bearish candle pattern and/or divergence in order to join the second part of a double wave cycle. TP 0.8699 SL 2 pips + spread above last high after price...
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...
FX:NZDCAD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe trades; open.spotify.com
Here we have a clear example know as a break and retest where previous support no became resistance. A break and retest of the black trendline is also on the cards with price making a 3rd bounce and lower high of the blue trendline.
Waves within Waves, Short the 5th wave of the 4th Corrective move trading within the channel up till 61.8% Fibo level at price 0.8965, then Go LONG from this level to breakout the channel resistance 5th wave (impulse) on the Weekly chart. Apply due diligence.
FX:NZDCAD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD Safe Trades;
This range trade offers a very good risk-reward ratio. With target profits at around the critical pivot and support lines. The Pivot Indicator (Fibonacci) is set on a yearly timeframe.
NzdCAD met a strong resistance level and I expect a sharp move down soon. Actually SL here may be moved much tighter than shown on the picture. As it is against trend trade with care.
This pair has been in a great bullish run but considering the 5 wave structure seemingly complete, we expect a pullback from now on. Breaking the 0.8865 support will pave the way for a correction targeting the wave 4 low at least. Good luck, Cyclical Waves Group
Details on chart. Thank me later. Happy Tidings.\\ Forexgod