Hey all, so looks like a very interesting week ahead, so I will be looking at 5 pairs for the week, however this particular watchlist is subject to change, so keep an eye out for our Wednesday Midweek Review where we re-look at the markets and adjust our approach accordingly. For now however, here's what we looking for:
AUDCAD - Weekly closed a strong BE, with price currently closing on major 0.8920 support with confirmed 4H, and 1H bullish MACD Divergence. With a decent setup, I will be looking to get long at market open.
AUDUSD - Weekly closed bearish, possibly confirming the right shoulder of the inverse H&S pattern as well as the 61.8 fib retrace. With strong intraday signs of deceleration around this area, as well as 1H bullish MACD divergence, there is enough confluence factors to support the run to the 4H 50, however I will be waiting for a setup upon the break and retest of the hourly 50, with a possible pivot play depending on the structure.
CADJPY - Weekly closed bullish, however price continues to hover around the 106.50 major resistance area. Price is also beginning to show signs of bearish reversal despite the daily bullish MACD divergence, as both the 4H and the 1H is showing strong signs of bearish MACD divergence as well as significant bullish deceleration. I will be looking to get short to possibly trade down towards the prior lows.
Kindly note that this is not my entire watchlist but just some of the pairs that I will be keeping an eye on this week. Also like I mentioned in the beginning it is subject to change so none of this is written in stone.
Have an awesome, profitable and amazing week everyone, and always remember, stay focused, stay disciplined, and stay consistent.
AUDCAD - Weekly closed a strong BE, with price currently closing on major 0.8920 support with confirmed 4H, and 1H bullish MACD Divergence. With a decent setup, I will be looking to get long at market open.
AUDUSD - Weekly closed bearish, possibly confirming the right shoulder of the inverse H&S pattern as well as the 61.8 fib retrace. With strong intraday signs of deceleration around this area, as well as 1H bullish MACD divergence, there is enough confluence factors to support the run to the 4H 50, however I will be waiting for a setup upon the break and retest of the hourly 50, with a possible pivot play depending on the structure.
CADJPY - Weekly closed bullish, however price continues to hover around the 106.50 major resistance area. Price is also beginning to show signs of bearish reversal despite the daily bullish MACD divergence, as both the 4H and the 1H is showing strong signs of bearish MACD divergence as well as significant bullish deceleration. I will be looking to get short to possibly trade down towards the prior lows.
Kindly note that this is not my entire watchlist but just some of the pairs that I will be keeping an eye on this week. Also like I mentioned in the beginning it is subject to change so none of this is written in stone.
Have an awesome, profitable and amazing week everyone, and always remember, stay focused, stay disciplined, and stay consistent.