I'm watching this zone to add to my current short. Nice confluence in this area.
I'm guessing there are a lot of traders waiting for the .618 retracement of this double top to sell I will be one of them. I am hoping it will pull back past the .618 so that I can get a better R/R.
D point on a Daily Cypher just completed on USDCAD. Although it has push lower I am watching this area for a reversal on lower time frames (1h/30m). I looks as if we may get the third drive to the 1.618
Already in this. Traders may want to wait for better R/R. 140 pips of risk here. Proceed according to trade plans. Not on chart but if I hit T1 I will set stop to break even with 2nd half of position and let it go.
AUD has broken down. Will add to short in this zone.
Here is a Cypher on OIL. I'm also watching to see if the Shark will come into play. The Shark may be unconventional to some. I don't often trade OIL but I watch it closely as trade USDCAD and AUDUSD regularly.
Watching OIL very closely. If OIL holds support USDCAD will likely fall. If not we could push much higher on CAD weakness.
Finding pattern clusters all over the place. Telling me there is indecision in many of the pairs. This I what I watching for. Mostly looking for was to get long on the shorter time frames with this pair.
WEED has broken out of its downward trend line. Probably getting a push with the boost in healthcare and biotech. If it can breakout some more and hold key support I will be a buyer. WARNING very risky stock. Proceed according to your fully tested trade plans.
Looks like GBPUSD doesn't want to decide a a trend. Probably due to the continued uncertainty about Brexit. Here are two potential ways this can go in the short term.
After a perfect 1.618 extension AUDUSD 0.04% is coming into good reversal zone at least for for a small bounce. I am currently short and will take profits in that area.
With the recent break and close below the most recent swing low it looks as if GBPUSD -0.01% will make one more push down at least. I am currently short and may add to my position on a pull back .
Just simply looking at a few longer term trend lines and structure there are a couple of places the pain may stop or at least be held up for a little bounce. With the huge run up a pull back to the 132.50 area seems more than possible.
Maybe a Gartley with a Cypher in play later on if the dollar stays strong against CAD
Potential Bull Bat on the higher time frame. Use pattern/candles and RSI on the lower time frame for exact entry.
You could almost sell GBPUSD -0.15% now, but I would prefer to enter short on a pull back to the .618. If it does drop and break the neck line of the potential H/S there could be a nice reward.
Doesn't look like I'll get the 2618 on this pair so BAT instead.