USDCAD this is a nice place to enter for a short.
stop loss should just be above my blue line.
FOR THOSE THAT have been keeping tabs with
my analysis, you should have made lots of profit on this pair. :)
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CAD seems to be very strong against JPY, We can see a strong Daily bullish trend and in 4hr we can see the price is creating new Higher Highs. Next week we are going to see more bullish race for this pair. Let´s wait a good entry in 4hr/1hr chart to catch more pips.
Also we can see a possible Harmonic Pattern formation in the following weeks/months.
Good Luck ...
Rejections at 1.003 and 1.004, which also happens to be a historical structure area and a 0.618 fibonacci together with weakening momentum. These key points build this case for me.
Aiming for first profit at 0.994 and final at 0.988
Just touching our bearish trend line, we have two double tops coming together to make a bigger double top. Trend line and the structure that we see here also coincide with historical support and resistance area, aswell as the round even number 0.9500 which price has yet failed to violate.
Above could very well be reason enough to see a bearish rotation where I ...
Structure, trend line, and a fibo 0.618 are all fighting together for me on this one.
I will watch closely and keep trailing tight after passing 1.0 down at target two.
For a more conservative approach you could wait for this 4h candle to close (20 mins left) or the MA crossover at hourly.
A few clues here adding to this case:
Price clearly respected;
And it showed it respect by showing a double top (A) followed by a 2618 (X).
To our protection we have structure zone + fib + trend line (Z), all combining.
I entered my first position after double top.
Second position after 2618
Its a bold target, but price gives ...
Recently, as you can see on my recent published charts, mr batman has proved himself incapable of assisting and been completely beaten down.
In this setup we have a bigger gartley-pattern which could add some backup to the weak (yes.) bat, together with falling trendline and structure looking back - and the double top that these two combined will form when the ...
Gartley completing within a price range that has previously been showing both support and resistance many times. Together with the structure we also have a bearish trend line to back up as resistance.
Target 0.382 fibo of A-D leg.
Lets see if we get filled
Time to get short!.. Or long!.. Or both.
We're currently in a previously tested channel with support/resistance both above and below. We see two pattern forming. Gartley (red) and bat (yellowish).
Orders are pending on both, lets see which gets filled!