Price has confirmed a higher high, we are now going to sit and be patient until a higher low is formed before going long, preferably out entry would be at the 50 fib level as we have a few confluences here, such as a structure level which price has respected previously, and we will be interacting with the 50EMA. Need to wait for a confirmation candlestick if we do come down to this level before entering.
Price now caught in a range, bounced off the 200EMA twice, and is being squeezed by the 8, 21, 50 EMAs from below. Direction of breakout is not clear so will need price action to confirm.
Beadesy
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*On the 4h chart
PlayCurrency
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this is a short when oil pumps cad pumps 1.26 is target
kaiser29
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@PlayCurrency, How reliable would you say this observation is?
Good luck :)