We can see price has moved very impulsive since the Breakout of the ascending TL, however we are now in an area of interest, we have to 50% fib level, previous lows acting as resistance, we can see a double top and a bearish wick candlestick to confirm this entry. The only timeframe this doesn’t look good on is the 15m, however these higher TF’s are much more...
There looks like there is a lot going on in this chart, ok so let me break it down for you.
With correlation to my DXY weakness bias this pair is screaming for a move higher, technical are also on point.
I took a long from the Breakout of the recent descending TL and bagged 5%, since then we have seen price push up higher however it is now very corrective and at...
Price is currently in a down trend, there is a minor pullback which shows that its making lower highs & lower lows:
-prices hasn't yet exceeded the resistance level and has diverged of the trend line.
-candles remain lower than the MA.
As we can see on the 4H chart price has fallen out of this rising wedge formation, we have now clarified that we have a lower low and looking to short this pair upon a confirmation of a lower high with confluences such as candlestick patterns, fib levels or EMA.
Similar to a lot of price action in many markets of late, this market has stalled below a key level.
Price on the daily chart in recent times has been in an up-trend, but it has not yet been able to break this major resistance level.
This level looks key and if it gives way it would pave the way for breakout trades and quick intraday breakout and retest trades.
1) Change in market structure with price forming LH along with long wick candle rejection
2) price was in a bearish channel ( HFT correction phase)
3) Price touched weekly downtrend line (major Zone)
4) Horizontal resistance
5) Price broken out of LFT correction at 1hr time frame
6) Mini HSD pattern with price retesting the neckline in a 15mins bearish...
Triple top which is marked by the horizontal black line signals a reversal which has been confirmed.
Although this entry may be late there are still some pips that can be caught and to be safe the TP is at the previous low.
USDCAD Analysis For The Week Ahead.
Rise Up To Form The Double Top, (If Double Top Is Not Formed Then The Trade Is Null & Void).
Regardless, Its A Rise, Then A Drop To Our Profit Zone, Before Consolidation And We Can Re-enter To Take Profit Right At The Bottom.
Let Me Know What You Guys Think.
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-Very good buy setup on the bounce of the ascending trend line.
-Looking for price to potentially hit TP levels of: 0.65018, 0.65688 and 0.66209.
-A confluence which suggests that price has a higher probability to move to the upside is that the supply zone is in line with 23.6% fib level. This means that price could react around the 23.6% zone well which gives me...
Potential to trade the bullish AUDUSD major pair should price break the indecision doji candle positioned on the 50% Fibonacci area of value following a recent period of retracement. Possible 1:3 risk to reward ratio should price reach the 100% Fibonacci extension level.
The downturn has begun in the markets of the Eastern countries, and Bitcoin has tended to decline. I prefer to tell my friends every time I am out of the market.
Given the market convergence with the global economy, we are expecting a large-scale reverse signal.
Look out for deeper support.