weekly chart is showing usdcad in a bullish flag pattern.
daily chart shows that usdcad entered an ascending channel which broke out and retested the trendline.
however enter at your own risk as NFP is due on a Friday so anything can happen.
Here on the monthly time frame price is creating a squeeze an ascending wedge. Inside this wedge we have another ascending wedge forming on the daily time which is marked by the blue trend lines. I have also marked out monthly zones and we are nearing an area with a lot of sell sensitivity.
The arrows also show where price has touched the trend line.
USDJPY in the short term looks bearish, current price action is restricted to a descending triangle. Marked on the chart is the 50% and 61.8% Fibonacci retracement levels of the bear market which began on the 13th of December and continued until the 2nd of January. Currently looks like we should see a retest of the lower triangle line as we continue to trade...
Option A price correctively moves to the upside slightly breaking the High and then Retracing.
Option B Price Rejects off the Double Top and drops.
I am only looking for selling opportunities due to the HTF Structure.
Greetings. A committed learner here and I would appreciate comments. Upper trend line shows limited support at the top left start portion but sometimes despite the close proximity of the touches they still play out. We have a larger descending channel with an ascending channel moving within. This smaller ascending channel seen with purple trend lines formed after...