Fairly obvious setup, signs of rejections around the trendline. Trading at the direction of trend bias risk/reward ratio 1:1.7
signs of candlestick rejections around the confluent line pointed out, where we have price respecting the 61.8% fib level as a complete formation to the lower high showing signs of exhaustion, the price could reverse and find new attractions towards lower price points. risk/reward ratio 1:1.6
price is still consolidating around the 1.3700 price region, we have found some intraday bearish exhaustion around 1.3620 which has acted as liquidity zone previously, and have seen some buying power around this zone. risk/reward slightly tight
Signs of rejections around the fib region, with exception to how the trend is on the downside, we can capitalise on this lower high leg formed for further momentum to the downside. risk/reward 1:1.6
price has retraced into a confluence region where could be viewed as a new lower high. We could expect further bearish pressure around this region. risk/reward is tight
candlestick rejections around a key fib region of 78.6% could express a new leg into the highs. Still trading with respect to the market trend. risk/reward is good
signs of bearish exhaustion around the -27% fib region acting as support as price failed to break below it, even followed with another spiked rejection could further add consensus to our bias, which we could expect some upward shift in price action. risk/reward is 1:2
In respect to market trend on higher timeframes, the euro is still trading relatively bullish to the yen. Price action seems to convey some respect to our upward trendline which was rejected, and could perhaps be a reversal area for more momentum to the highs. risk/reward is tight
signs of bearish exhaustion around the 1.5490 price region, which price could consolidate around the supporting trendline and fib level and create new momentum towards the highs. Reminder, that on larger time frames price is still exceedingly bullish for euro versus the Canadian. risk/reward ratio is 1:2
utilising the market trend as a general map of how price action is behaving, USD/CAD has been trading aggressively bearish. Despite price attempting to reverse, we see a strong confluence around current price region acting as a resistance for candlestick rejections as well as a key fib level. risk/reward ratio 1:2
Price is still relatively bullish on the long term aspect, we have seen some liquidity around the top of the psych price region, and we are currently seeing signs of momentum to the upside to potentially tap or break above that region. A preferred area of buying has grossed our attention around this confluent region where price could respect the trendline and fib...
price has respected the downside trendline and traded within range, expecting some downside price actions which could tap our -27% fib region risk/reward ratio 1:2
As clearly mentioned price is respecting our 61.8% retracement region, we could expect potential downside pressures into previous spiked lows. risk/reward ratio is 1:1.5
euro is still trading extensively bullish against the pound, picked an area of retracement region which price tapped, where a new leg could be formed and move right into TP targets and higher. risk/reward ratio is 1:1.6
Price is exhibiting some rejections around the 61.8% fib region, this could be a point of momentum shifting towards the downside. risk/reward is 1:2
The continuous flow of momentum to the downside is heavily pressured by sellers, the price has recently however tapped confluence regions of 1.2750s supported by our 78.6% fib retracement and the respected downside trendline. risk/reward ratio 1:2
the onset of negative sentiment towards the UK with Brexit negotiations falling etc, the price has retraced to a nice rejected fib region. We could expect further downside to previous levels and possibly lower.
price has been consistently bearish pointing towards a very negative sentiment on the dollar vs the Canadian pair, hence why we can anticipate certain pullbacks/retracement around ideal regions for better scaled in entries in favour of the trendline. 1:1.5 risk/reward ratio