An interesting day, price-action wise, yesterday.
Today, more Q1 earnings reports – may put spanner in the works.
Overnight, price coiled around the highs of yesterday. Price is above yesterday’s POC and has tested yesterday’s high several times.
My take is that price will shoot through the October highs. As to whether it continues, that’s down to earnings...
EURCAD we have had a double top on the higher time frames meaning a trend reversal.
price has broken the ascending trendline and is now at a key level looking for a brilliant sell off to complete the M formation.
150 pip move risking 50 pips to gain 150
Heading towards the top of the ascending channel on USDCAD, multiple confluences including prev resistance & possible double top forming on Daily TF therefore I believe we could have a great sell opportunity around the 1.37500 level. We are in a strong uptrend however we are over extended and have a lot of 'empty space' to fill below. Looking at the smaller time...