Yesterday analysis playing out nicely. We have now entered as planned on 137.200 with a 20pip stop loss. The plan is to hold the trade for full 4 days for R:R of 1:8. Please check out my analysis yesterday for this.
-Possible shorting opportunity on this pair.
-Price has rejected my daily zone a few times and has also started to create a lower low and lower high.
How I will be entering:
-I will be waiting for a nice bodied bearish candle to form upon which entry will be taken.
-Stoploss shall be placed above previous high.
Price has consolidated in a stable zone and in the 1HR time frame it has created a triple top.
Stoch and RSI are both oversold but bearing in mind this trade will be taken only with price action however indicators were only used as a form of confluence not a confirmation.
Currently price is consolidating my zone and in the one hour price has formed a double top.
How I will be entering:
-Upon the next successful bearish candle I will enter on the close
USDCAD is currently pushing price up to form an M reversal pattern near my zone. The first leg has already formed in 1HR and now the second leg of the pattern is forming. (Double top).
- price is also respecting the 50ema dynamic support in the 1HR time frame
How I will be entering:
- I will be waiting for this current bullish candle to close and possible wick...
