The pair is already in a strong downtrend on higher time frames. We are expecting further weakness which is signalled by the breakout of the rising wedge pattern. We can also see the formation of a new low and a breakout of a key level which further supports our directional basis.
We can see that price broke the short-term trade line, after which the low was tested, followed by a formation of a double-bottom pattern formation.
We can see price continues to be bearish on multiple time frames. This is followed by a trendline breakout on the daily time frame as well as a channel pattern breakout.
USDCAD seems to have turned bullish on multiple time frames. We are waiting for a correction to end on the lower time frames before we enter long. Various factors and patterns supporting out bullish stance has been plotted on the price chart.
AUDUSD is in a strong bearish trend. After looking at the weekly and monthly charts we are only looking at selling opportunities. We have seen the following reasons for looking to sell: 1: Bearish flag breakout. 2: Trendline breakout. We are looking to take an entry at the retest of the trendline.
We are looking to potentially long this pair due to the following reasons listed below: 1: Higher time frames remain largely bullish 2: Key Level breakout and change in market structure from bearish to bullish 3: Trendline breakout 4: Bullish falling wedge breakout The consider the frame on multiple time frames before we consider which direction to potentially trade.
We can see that the pair has turned bullish after a short correction. We have also identified certain patterns which further support our bullish basis. These have been listed below: 1: The pair is in a strong uptrend as the price is making new highs 2: Trendline breakout 3: Pennant pattern breakout We will wait for the price to correct on the lower time frames...
When we look at the pair there are more bullish signs and bearish signs hence we are only looking for buying opportunities. We have listed the reasons for our bullish basis below: 1: Higher times frames show a strong bullish trend. 2: Lower bullish channel test and potential bounce. 3: Up-trendline test and bounce. 4: Pair us making new highs which signal a...
Very simple trading pattern forming in the direction of bigger picture trend. We will wait until we see a bullish correction on the smaller time frames before looking for an entry. Once this correction is complete we will then enter short as long as we think we can achieve a minimum of 1 to 3 risk reward on this particular trade.
When we zoom out on the higher time frames, we can see that the pair is in a strong downtrend despite the bullish correction in the daily time frame which lasted a few days. We have listed various reasons which support our bearish basis. 1: Monthly time frame trend suggests a strong downtrend. 2:Price failed to break the lower high formed on the 4th of April...
When looking at the times frames higher than the daily timer we see the pair remains bullish despite this pullback, hence we are only looking for buying opportunities at the moment. We have listed the confluence we are in line with our current buying setup as follows: Key level breakout. Change in market structure from bullish to bearish. Trendline...
We have been looking at this pair and waiting for various patterns to form which will assist us to form a basis for the potential direction of the pair. Our trades are based on the higher time frame trend, being the weekly and monthly charts in order to avoid excessive noise of the lower time frames. We can see that the pair remains bullish despite the pair...
We are looking for selling opportunities only due to the higher time frames remaining bearish. Confluence factors: Trendline breakout. Falling wedge breakout. Potential key-level breakout. Change from bullish to bearish market structure.
Reasons for selling: Trendline breakout Risings wedge breakout Key level breakout Change from bullish to bearish market structure. The setup was taken after looking at various higher time frames. With this being said, we will only be looking for selling opportunities inline with the bearish higher time frame trend.
We have been looking at this pair since the end of Feb. We have been waiting for the price to form a strong bullish pullback. This is opposite to the overall bigger time frame trend, which remains largely bearish. How the price is currently setup has given us the potential to trade in the direction of the bigger time frame bearish trend which will give us a...
We have been looking at this pair since the end of Feb. We have been waiting for the price to form a strong bullish pullback. This is opposite to the overall bigger time frame trend, which remains largely bearish. How the price is currently setup has given us the potential to trade in the direction of the bigger time frame bearish trend which will give us a...
List of confluences: 1: Trendline breakout 2: Falling wedge breakout 3: Potential breakout of key level and change from bearish to bullish. We look at the higher time and can see that the pair remains bullish. This is the reason we are looking for only buying opportunities so that we trade with the trend and not against it.
Massive sell-off expected at the break out of the key level. We look at multiple time frames, and the pair remains bearish long term despite this aggressive bullish pullback. We take to Take into consideration multiple time frames when asses the probability of a trade and not focus on a single time frame.