Market is currently in an upwards trend channel, however this channel
has now been broken and retested at the channel, resistance and
Fibonacci level of 0.382
Since price has already broke and retested I am now looking for an entry
since I hesitated the initial retest during last weeks session.
Another idea is to wait for price to...
CADJPY | D1 | BEARISH
A simple example of market structure,
This is a lesson we've all studied in nursery.
What happens when price reaches the support / resistance?
I know what you're thinking...
It can either reverse or breakout.
At the same time we have to use our intelligence, intellect and intuition; our instincts and common sense — in...
not so much on my charts these days (at least for my eyes), but i've been able to find this nice setup on the hourly chart. It's a bearish bat formation that's going to complete in a strong structure level (both daily and 4H) and i'm going to get in as soon as the price will touch the D completion point because of the higher trend and because it's a nice...
on CADJPY we're facing a good level of structure on the daily timeframe: in that zone we can see we've an RSI divergence pointing in the short direction, together with a small 1hr double top and a 4hr engulfing candle. Short with stops above the highs and targets as shown.
If you have any question/idea, feel free to comment below.
Otherwise, see you in...
this pair didn't take breaks, it's skyrocketed from 81 to 89 in less than a month. It implies of obviously a great disparity between sellers and buyers, but i think this could be at the end point. Looking left, this level of resistance is the last major one: it's also a weekly level and price always respected it in the recent past. This makes me think we...
this is a pair on my radar this week, price has been in a heavy uptrend and now has reached a possible reversal zone (because of daily structure). On lower timeframes there's no confirmation yet, but let's see how it plays out. Very overbought condition makes me think we could see a reversal right here. Let's see.
If you have questions or you want to...
This is a short opportunity which I'm looking to play out this week. About 200 pips. There are 3 take profit points. Wait for confirmation on it going down at each key TP. I've entered this today at peak 83.300 looking to capture 200 pips. Always lock in profit with SL at each TP. Trade safe
this is one of the simplest method to read structure, in a downtrend, when a support is broken, it most likely will become resistance once retested. Stops above highs, target1 81,2x level. Target2 to be determined.
Don't know if i'm getting involved since i have two other CAD pairs on my watchlist.
I'll let you know.
If you want to share your view, or...