NZD/CAD

NZDCAD, Daily time frame
Rising Wedge Pattern
Downward price movement Indicated
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We dropped the ball on this pair, actually, he picked the bottom there, it went on to go higher and then reversed

Charts are coming, CAD news on Friday gave this pair a boost.

This is what my Price Action analysis has evolved to.

Some charts on the fly, long term view first, weekly

1. I have not been a fan of trend lines but recently noticed that if I draw them on the levels of the Fractal indicator, especially on the Daily, they are a good guide.

2. There was a Pin Bar 2 weeks ago, a big clue I guess

3. Break of last week's low, and a fractal level

4. Break of indicator FX Trend on weekly, doesn't happen often, wouldn't use it as an entry but an overall direction as often there will be retracements. In fact, many times I notice the 2nd time it crosses is an excellent opportunity.

Attached Image (click to enlarge)

This is what my Price Action analysis has evolved to.

Moving on to the daily chart; what can we see on Monday?

1. Weekly trend line based on Fractals has been broken
2. Price below the Weekly Pin Bar low
3. Daily trend line based on Fractals has closed below
4. Indicator FX Trend has been broken
5. Fractal level, the same level as the daily trend line, has closed below

And this week,
1. Monday breaks last week's low, a bit of an early fakeout as it turns out
2. The retracement we should be waiting for; the Daily Pin Bar on Thursday shows the weakness
3. Price moving below weekly open (Aqua line)
4. Price going below Thursday Pin Bar
5. Price going below last week's low for the 2nd time

Not marked is when it makes the lowest lows of the week around the round number of 0.90, the thin purple line

Of course, the CAD news during Friday helped all this, and I was aware of that for sure!

Attached Image (click to enlarge)

This is what my Price Action analysis has evolved to.

If you were able to follow along with that mess, wait until you see the 4 Hour chart, where I try to make trade decisions.

BIG arrow, I love the Master Candle that shows the weekly. I have it set to show last week, I can see that was bearish red, and when this week price goes below the Aqua open line, this week's candle turns red, no need to check a higher time frame, I can see it in real-time on 4H and 1H charts.

Where the Star is, so many signals, FX Trend on 4H is broken, Inside Bars, previously mentioned below weekly open, below Thursday low, below last week's low. Also, note where the retracement went, not even to the 38% and held by the 50 EMA on 4H which I like.

As mentioned, the CAD news helped, and I was watching the strong vs weak situation.

Attached Image (click to enlarge)

Looks like NZDCAD in a strong momentum move : With FIB Fan support too

NZDCAD just reversed down from Golden Resistance Level 0.8852

Hi traders,
I have noticed spread widening on NZDCAD at 18:00 UTC. It is happening allmost everyday. As shown on the image below (tick data from Ducascopy), the spread has changed from 2.7 pips to 19.9 pips on Monday 17. Does somebody know, what is causing this?

the price has left the channel, the probability of continuing the fall is high