1D trending up with retracement on zone Taking the trade on 1H chart as a double bottom, 2nd low is higher than 1st low. We set the SL below the 1st low
Last night I discussed the AUDCAD in a video that I put out for my Syndicate members. We had previously earned some pips on a a bearish Bat pattern, but the market never really ran too far way from this general area. What caught my attention was the series of higher lows and the fact that we finally achieved a LLLC as on last nights analysis. I didn't have a...
Reasons for entry : - two big FR 23.6 and 38.2 - Strong structure Stop loss : - Below previous swing low (HL) Take profit : - 127.2% FE of the move - ABCD pattern complete at the same level - Major strong structure
Reasons for entry : - one big FR 38.2 (trend continuation number) @ structure - second big FR 61.8 (strong reversal number) @ structure Stop loss : - Above previous structure Targets : -FE 127.2 - Harmonic move - Strong support line Once we hit the target we have good opportunity for longer trade.
I'm looking at two things here on the EURAUD. Bigger picture is a potential bearish trend continuation trade as price action looks to make a retracement into a previous shelf of structure. Around that same level lays a potential bearish butterfly pattern completing at 1.618 & 1.272 Fibonacci confluence. Adding to that we have more ratio confluence in the form of...
USDCAD is Retesting the structure resistance level on daily chart. Potential trend continuation expected as price action retest the structure and then go lower. The idea is to go short for trend continuation trade with stops above the resistance levels. Targets can be Fib 38.2 and 61.8 of the rally. Aggressive traders can stay in trade with trailing stops as the...