CADHKD has spent the last month consolidating and has now broken above the 5.74200 range that has been tested as resistance several times. Looking for a pull back into this range and rejection. Short/mid term targets are marked on the chart.
Happy Trading!
-Nick
It can go up to chase resistance, and it can spike down then up...or cruise itself down.
Bearish interests, attention for 5, 71537....to what may happen there. And if price reverses to break above the dsl line then the set-up will be invalid.
CADHKD reached the bottom of a range in 2016 and since has made 2 higher highs and 2 higher lows
Price action in January 2019 reacted bullish to an original Demand Zone created in March 2017
Will add to position at pullbacks and take profit at Supply Zone
Monthly low on curve. Reaching demand zone. to go long only
Weekly downtrend. but all supply zones seems to be weak. prepare to go long
Daily to go long at strong demand zone with big impulses.
nice zone for short
1) RR to triangle
2) TOP of channel
3) RR to 123
4) Pin D1
5) good D1 structure
i am just waiting for correction on H4 for make it more clear H4 timeframe.
I forgot to log this trade on entry.
Up 310 PIPS, this end of week price action is going in the direction indicators are painting. Still in trade will stay in over weekend.
See callout bubbles. The CAD trakcs with Oil closely while the HKD tracks very closely with the USD and the USD is currently seeing a lot of weakness and possibly looking at more for 2018. There is a pretty strong higher time-frame uptrend intact, so let's look to join that trend within the green-highlighted area until we get to bigger sellers above.
Always...
