My idea for CADJPY
Short Term Long - We are in a Bullish channel and we now see a Bull Flag within this channel on 1H. So I am long with TP at 90.70 & SL at 89.950.
Midterm Short - This will then hit the upper side of a much larger channel seen on the 1D. I expect the bears to take over as the RSI on the W is 77 & 68 on the 1D.
I have a Sell Limit at 90.6...
We have seen a break out the the bullish channel on the Daily, I would expect a re-test to resistance and the under side of the trend line followed by a further bearish movement.
My Initial position would be:
Depending on how this move goes I will re-access the chart for the potential short
My Idea for the AUDUSD short
The RSI shows the current price is high indicating a imminent sell off, and the MACD has shown a cross over. I think this will now move the lower side of this bearish channel.
MY Entry 0.7726400
My Next Idea:
GBPUSD has been consolidating in a wedge formation, It is coming to the end of the formation so we expect a break out. I think this will be on the bearish side.
I expect it will break out to around the 200MA around 1.35800, then retest the lower side of the trendline before heading down again to support which I make around 1.35320. When this...
I have entered a short position on EURUSD.
My thinking is it will continue to be bearish in the shorter term to reach the lower side of the bullish channel. I think it will break and then retest the support / resistance at 1.21140 then reach the bottom of the channel somewhere around 1.19230.
Given the lower channel trend line is in a similar area to the...