confluences:
broken 4h EMA
bearish engulfing
top of descending channel
(usdcad looking like a nice long trade)
entry at retest of broken support
sl 50 pips as its a swing trade and it might pop up one more time to take out sellers
Grab the cookie jar. Pullback to 1504-1506, looking for deceleration within this region, ideal AOI would be 1506 with 38.2 fib rejection(s). Looking to take that to 1497, retest 1500 if we get a retest, just another option for added position. Otherwise we just turn the furnace on now & melt (struggling for body closure above 1H 50ema), but favoring 1506 AOI to...
38.2 retrace, multiple rejections, screaming short, then followed by a bearish engulf. Scale down to 15 min to possibly even get a better entry than the 1H bearish engulf. Take this down to the -61.8 which aligns with the ascending TL. 150 pips banked. Lebron James
Clear 4h 50 EMA & Ascending TL rejection to take lower, which intake was a perfect time when NFP came out to be the catalyst to move Gold up for a simple pullback on a 400-500 downside move, which was another great short entry for gold to take from 1524 to 1504 for 200 pips. Gold Rejected 1H 50 ema, silver aligned well with this too.
