Waiting for a pullback to go long NZDCAD 18 Oct, 2021When this market is trending, the relationship it has to the 20EMA is consistently good. The EMA holds the price down when bearish and provides support when bullish. When price touches the EMA it has been a good location to take a trade in line with the trend.
We seem to be at the start of a new bullish move and if this holds true, taking a buy at the next pullback could be a good trade with a large potential R/R. The support around 0.8630 has held since mid Aug. and I expect it to hold again. However, nothing is 100% in trading and what was true in the past may not be true now. Place a stop loss on the other side of the 20EMA but give it some breathing space.
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NZDCADANALYSIS
NZDCAD Short EntryNZDCAD Major trend is SELL but minor trend(4H) was buy. Minor trend support line broken and retested. So we think NZDCAD will follow the market structure and going down movement.
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NZDCADBullish Indicators:
1) Bounced from the upward trendline
2) Support zone
3) Followed by the three white soldiers
4) 78.6% Fib Retracement level
Bearish Indicators:
1) Descending trendline
2) Resistance at 0.87890
Plan A: On the breaking of resistance level 0.87890 and downward trendline one can buy for the target 0.88535.
Plan B: On the breaking of upward trendline one can sell for the target of 0.86666 where the major support lies.
NZDCAD: Catch The Ride DownI would expect the price to come back to the equal low liquidity before we see any signs of bulls.
I would want to enter sells on a slight pullback.
If we see a pullback with signs of rejection I will be scaling in sells for a juicy drop to the downside.
Do you agree with me?
NZDCAD Bearish Scenario (Weekly TF)We had some good bearish movements on this pair for the past few days, but for now, there's a possibility of observing some bearish momentum as the price approaching the weekly key area! Any daily bearish candle on this pair will be an indication of bearish momentum!
NB: I posted H4 analysis for this pair a few days ago, visit my page to view it!
NZDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
NZDCADprice already broke the uptrend channel and already make an retest to, waiting the candle confirmation and we ready for short trade. But price maybe broke the retest and going uptrend. remember always waiting for the breakout + retest + candle confirmation + money management + psychology. GOOD LUCK
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NZDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
NZDCAD ANALYSISOn this pair we see a potential sell, if this uptrend break is confirmed and we break this support we can enter on a sell with really great chance to see the 0.5 levels on this impulse, we could see further correction to 618 but we need to check the strenght of the correction. If this support resist we can see this uptrend being continued and testing the 0.91 resistance. Wait for the market and react! Good Luck on the market!
NZDCAD SHORT STOP 0.88975don't trade before SELL stop, if you get 20 to 30 pips kindly close, its good for investment 2% risks.
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NZDCAD Looking For A Buy IdeaIn this we are looking at the Bat Pattern Harmonic as you can see we watching the trend up
Now we wait for the pull back into the logical area ready to push up from the logical area and its also a nice 50% area of this Bat pattern B area looking left
see how we have HL trend forming beautifully on its way up to the D point this is where we wait for the pull back you possibly could sell from this area but im waiting for the pattern 50% retrace then take it on the up to continue trend
What is your thoughts........?