Impulse Retracement after downward breakout from pennant atleast upto 0.618 retracement. Long positions onwards from 0.618 of impulse leg with a break from channel upwards.
The pair isnt giving us much to play with on the lower TF's but anticipating a flag break up north. A break of support would invalidate this idea.
Price consolidating in the triangle waiting for a a down move break..
There's a confluence of structure here that supports the likelihood of a reversal. 1) trend resistance 2) (bear) pennant 3) At this price level, around R2 weekly pivot. there have been reversals in the past (see left) If we get a break of this pennant structure, short this all the way down so monthly S1 which seems to act like a magnet.
Looking to sell this pair after it formed a beairsh pennant on h1 with 100 and 99 as my main profit targets.
We have seen an incredible impulse up last session which has every chance to continue its move this week. Buy the breakout of the current pennant.
The pattern looks clear so I go long on break of a pennant with target at 5918 that is calculated from the impulse leg.
My view on gold right now,it looks like its forming a bullish pennant for now but a bigger correction its not excluded.
USDCAD developed a bearish pennant on daily which is a continuation pattern and after last days failure to make a new high we could see the start of a big move down.
Main signals: 1-multiple top 2-gap 3-formation of pennant Sell 99.30-99.10 pennant's bottom line breakout Stop-loss 100.59 (+1 tic above pennant's high price) Target #1 95.00 (sizing) Target #2 90.00 (Elliott's waves+strong supporting level)
Signals: double top pennant breakout of strong inclined support Sell 34.10-39.80 Stop-loss 34.85 (+1 tic pennant's high) Target #1 31.00 (sizing+strong support) Target #2 28.00 (sizing+Elliot's waves+strong support)
Signals: double bottom pennant-triangle Buy 5.72-5.75 (breakout of pennant's top line) Stop-loss 5.30 (-1 tic under local wave) Target 7.50 (sizing) R/R ratio 1:4
Simple pattern trade here for a possible short position on this pair. Trade would be based on opening price action Sunday night. R/R around 1:2 which fits my criteria.
USDCAD forming a bearish pennant which could give us a good opportunity for a short trade .
My analysis on this instrument on what i think its gonna do in the next weeks.
GBPNZD developed a nice bearish pennant on h1, waiting for going short on this pair after a clear breakout.
EURCAD is developing a bullish pennant pattern and i am looking for a breakout to buy this pair.
Signals: breakout of inclined resistance pennant gap Buy 97.00 Stop 92.94 Target 107.00