looking for price to bounce of trend line and start making higher highs and lows on a smaller time frame before entering
either way, catch the next move by keeping an eye of it and entering accordingly to what the market does on monday. don't rush it and wait for an opportunity to come to you
before taking this position i want to see a rejection of a key fibonacci level and i need price to respect the trend line and support, make sure to follow all the rules you have in place before entering. use risk management! i am targeting my fibonacci extensions but you can aim for the previous high (the pink zone) trade carefully.
price has broke out of the bullish trend line, if price breaks below the correction as well you can look for some nice sells, OIL is going to be in high demand as travel gets back to usual so when taking shorts make sure you keep an eye on the open trade.
i want to see price come up for a third touch of the bearish trend line before dropping, price might not be able to rally that high but that is where i would enter. its important to stick to your plan
possible scenario, keep an eye and wait for confirmation. new traders dont just follow ideas, make sure they align with your own trading style and await a reason to enter the trade
keep an eye here on this pair, if it bounces and shows confirmation that it will continue long you can look to enter a buy position. if it breaks below then look for shorts, i have a short bias as it has broke the bullish trend line
price broke out of uptrend, made a lower high and has now come up for the third touch of the bearish trend line so i am looking for shorts
USDCAD had come back to the bearish trend line and looks to respect the trend, we want to catch the next fall.
(top chart) when price re tests the trend line that it broke out of, or it rejects a fibonacci level then i will look for short positions.
Feedback would be nice and helpful. Simple chart with support and resistance
Price has hit a previously respected Trent line and resistance zone and has had a strong shooting star candle as an entry. Simple analysis but looks good
Price reached upper channel support and RSI shows over bought, looks like a good sell opportunity