Pairs on Watch -
USDJPY : A lot of Yen pairs potentially could be recovering to the upside after the large sell off they had last week. This pair has tapped into the lows and given a great daily candle formation for the longs, now we need the lower timeframe to build. A couple of variations could develop here on the 1H, either a mechanics type setup where we get two tops and a gap in the middle that fills. If this happens I will look for the 1H risk entry. If not and price moves a little quicker into the low, I will wait for a small 5M insurance entry to get long.
NZDCAD : Now we can see the highs fully taken out and broken, we could be looking at the bigger sell move. The previous daily rejection was not the best, price snapped to the upside yesterday to take out the high and now starting to break back in. I will be waiting for price to impulsively follow through on the 1H first, once we have that any 15M continuation makes sense here and I can manage into the main hourly low.
AUDNZD : I am still keeping a very close eye on this pair from yesterday for the longs as we can now see the higher timeframe starting to kick in. A clear 4H impulsive leg breaking above the highs to the left and a nice 1H follow through, now all we need is a deliberate 1H structure that can be filtered to the 15M for a risk entry long. Letting this develop through today but could provide a really nice continuation later New York Session going into Asia.
USDJPY : A lot of Yen pairs potentially could be recovering to the upside after the large sell off they had last week. This pair has tapped into the lows and given a great daily candle formation for the longs, now we need the lower timeframe to build. A couple of variations could develop here on the 1H, either a mechanics type setup where we get two tops and a gap in the middle that fills. If this happens I will look for the 1H risk entry. If not and price moves a little quicker into the low, I will wait for a small 5M insurance entry to get long. NZDCAD : Now we can see the highs fully taken out and broken, we could be looking at the bigger sell move. The previous daily rejection was not the best, price snapped to the upside yesterday to take out the high and now starting to break back in. I will be waiting for price to impulsively follow through on the 1H first, once we have that any 15M continuation makes sense here and I can manage into the main hourly low. AUDNZD : I am still keeping a very close eye on this pair from yesterday for the longs as we can now see the higher timeframe starting to kick in. A clear 4H impulsive leg breaking above the highs to the left and a nice 1H follow through, now all we need is a deliberate 1H structure that can be filtered to the 15M for a risk entry long. Letting this develop through today but could provide a really nice continuation later New York Session going into Asia. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.