NZDCAD LONG TERM EXPECTATIONS

Two trading possibilities explained thus;

TRADE I
Tendency: Uptrend (Bullish)
Structure: Bullish Rectangle | Breakout
Observation: i. Price action has occurred over a protracted period of time (22nd Oct -25th Nov. 2019) amid a series of bounded fluctuations.
ii. Price action breaks Rectangle's resistance line at the 70.000 zone.
iii. An uptrend continuation pattern confirms a possible LONG as it appears price is breaking out of an indecision trend.
iv. Price above the Moving Averages.
Trading Plan: BUY with potential LONG TP1 and LONG TP2 (250pips) and SL @ 69.000/68.200 zone
Risk/Reward: 1/2.5
Potential Duration: 7 to 12 days

TRADE II
Tendency: Downtrend (Bearish)
Structure: Harmonics | BAT
Observation: i. impulse XA leg is observed.
ii. Point B retraces to 0.5 of XA.
iii. BC retraces 0.786 of AB.
iv. CD falls within a 1.618/2.618 extension of AB.
v. The expectancy that price rises into Point D completing at a 0.886 retracement of XA to complete the pattern.
vi. Price action accelerates towards Moving Averages on the higher time frames.
Trading Plan: SELL at SUPPLY zone with a potential TP1 and TP2 (depending on where price action reverses from SUPPLY zone) and SL (depending on where price action reverses from SUPPLY zone).

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space for follow up plan on lower time frames as price action is been monitored.











Nirvana! Forex Trades & Investments
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.