simple setup once again, no need to over complicate the charts, confluences + great RR provides great chance of profitable setups. Short position from the supply zone at 1.84175, we are over extended & due to retrace. This supply zone gives us the opportunity to do that
EURCAD facing a break or bounce scenario providing good setups either way. A break and retest of the TL for long positions or the more favorable is a rejecting of this TL for a small intraday short position down to the previous low where I'll be looking for a double bottom to form in the yellow range highlighted.
Bearish momentum has slowed down on the 4hr timeframe, also breaking the descending TL, formed and upside down h&s. It's looking to break the neckline and we will enter long positions on a retest if it was to hold.
USDCAD - change in bias after breaking to the upside of the consolidation range, looking to see a retracement leg to the upside. a clean break and retest would give us the confirmation we need to take a long position with initial targets set at the 50% retracement level
EURUSD is coming to touch a strong ascending TL once again, also looking to form a double bottom along with a strong S&R level, giving us enough confluences in this region to look to take a long position after we see a clean reversal candlestick off the TL for confirmation
GBPUSD has come into our sell zone between 1.28500-1.2900 also hitting our fib extension and rejecting thus far. shorts now in play! Brexit vote coming into play tomorrow could be a huge catalyst for this pair to go down south as i believe GBP is way too overpriced given the turmoil it is in with the whole brexit mess.
simplicity is key! very simple setup on GOLD, we are overextended and since having touched the daily resistance we have formed a pennant. We are looking to break to the downside & have confirmation with a 4hr close outside the pennant. Initial targets are set at the 23.6 retracement level followed by the 1260 level.
GBPUSD has recovered greatly since the flash crash early in the Asian session on 2nd Jan. From a technical point of view we came and tapped a big psychological resistance level at 1.28000 before coming right back down and breaking through the ascending trendline. Upon a break we look for a retest to sell & we have that here. along with this we have may confluences...
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...