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Nzdcadshort

NZDCAD - Head and Shoulders Pattern There is a nice Head and Shoulders Pattern setting up here on NZDCAD. There would be a nice location for stops right above the left shoulder and on the right shoulder retest we have a Double Top setting up as well with Bearish Divergence. If you want to wait for a confirmation you can wait for the neckline to break and then get involved on a retest and pullback. Depending on how aggressive you are with targets you can get a very good risk reward on this one with either a retest of the neck level or shooting lower. If you are looking for targets at the lower level of structure we have a 1.618 Fibonacci extension from the Head to the Neck which gives us confluence at this target location. -Raymond Jeffries
Short
by Raymond_Jeffries
NZDCAD: Bearish strength seems to restrict BULLISH climb!!!After an important rejection off a strong resistance zone at around 0.8840, we start to see multiple failed attempts for NZDCAD to break out of this resistance zone and move up higher. I will be seeing movement below the Ichimoku cloud as of now, with BEARISH strength building up. The strong support level @0.8795 will potentially be broken, becoming a strong resistance level for the BEARISH movement. With that, I see price moving towards the next strong support level @0.8690. As of now, BEARISH has a high chance of taking over from here. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
Elliot Wave: NZDCAD Bearish Continuation SetupSupport this analysis with your likes and comments! This is an update on the previous Daily setup shared a few weeks ago. NZDCAD reversed and broke the S&R zone and ascending trendline impulsively in wave i. According to Elliot Wave theory, impulse move is always followed by a three-wave correction. In NZDCAD's case, the short-term rally is currently taking the shape of a-b-c zigzag pattern in wave ii. Price is contained within a parallel channel and also retesting a significant supply zone. While the retracement can entends to a complex corrective structure, we can take a short entry from the current market level as long as the protective stop is placed at the major invalidation level which is the red line on the chart. Price has the potential to move downwards towards wave (a) low in wave iii of (c). The break of the green lines can be used as a conservative entry. The major invalidation level is the red line on the chart. What's your view on NZDCAD? Let me know in the comment. Thanks for reading! Veejahbee.
Short
by Veejahbee
NZDCAD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
NZDCAD - SWING - 22. SEPT. 2020Welcome to our weekly trade setup ( NZDCAD )! - 1 HOUR Sideways market structure around main sr level. 4 HOUR Price looks like we might see a strong drop shortly.. DAILY Good short positions, overall bearish looking market. - FOREX SWING SELL NZDCAD ENTRY LEVEL @ 0.88760 SL @ 0.89320 TP @ 0.87950 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Short
by DACapitalTrading
65
NZDCAD EW Analysis: Short Trade SetupHi Traders, NZDCAD seems to have completed a 5-3 (impulse-correction) cycle. Prices decline in five-wave from the top in wave (a), followed by a three-wave corrective zigzag in wave (b). The pullback retraced almost 78.6% of the sell-off, and the price action becomes weaker as it approaches the top. According to Elliot Wave theory, once a 5-3 cycle is completed, the market resumes in the direction of the impulse which is bearish in the case. - Target below wave (a) low is plausible in the weeks ahead - The setup will be invalidated if the price trade above wave (a) high , red line on the chart. - Execution from the market price ideal as long as stop-loss is maintained above high. - The break of the green lines will further confirm the bears have indeed resumed. Best of luck on the chart. Regards, Veejahbee.
Short
by Veejahbee
6