Daily break and retest of the 1.415 zone forming daily Head and Shoulder pattern. Daily closed as Lower High with daily tweezer tops rejecting key resistive zone.
4 Hour chart linked to my trade idea on GBPAUD
Simple break and retest of descending TL. Wait for break of lower timeframe phase line before entry is confirmed. Target 1 is 1.320
Quick first glance idea, Price had been pretty sideways on USDCHF for the latter part of 2016, and in the last few months it broke above resistance, which led to a rally all the way up to a previous yearly resistance level. It is now coming back down to retest resistance as support , and price is bouncing off the zone. Also, taking a look at the 1H chart,...
It doesn't get much easier than this, USDCAD just broke and retested lower trend line & demand zone with tons of space to the downside. I'll be looking to enter once 1.31000 (psychological level) breaks again, with long term targets toward 1.25000 (approx 600 pips). However I'm being cautious with this though, because price could also just bounce off demand &...