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USDCAD looking for a nice long bounce in the upward channel. The reasons I am looking to focus on buyying on this quick dip:
1. Long and Firm upward channel. Just bounced off the bottom of the channel line. +2
2. MACD is downside below the 0.0 however it looks to be crossing now and will be heading up. +.5
3. Fractal was just made signaling a turn around of the ...
We are going to watch for nice break out. If it breaks through the shoulder formation expect it to keep going down. If it breaks above the shoulder line look for a nice LONG position.
This looks like a good opportunity to short the USDCAD. I see a nice downfall towards support / Resistance lines and having the MACD support our decision is great. Looking for a nice gain in pips over then next few weeks.
EURUSD is testing a support for the third time and I am looking for it to bounce off firm support and head up towards next resistance line. I will be playing it on 30 minute chart to check small resistance levels but I think this should bounce nicely to form a "shoulder".
Playing the price action I am going to wait till end of hour to confirm a bounce and then either jump in a LONG position or a SHORT position depending on the results of the next bar.
Getting ready for a breakout... this should be a fun watch but I am expecting a nice bounce up out of the break and looking to make a quick profit.
As you can see the Stoch is in the oversold(ish) area and is looking to get back from that. While the moment just like the trends are moving in towards each other. (Low High, High Low). This should be a fun play!!
The top red dotted line is my Take Profit.
I thought it was green but once I looked I realized they were both red.
The USDCAD I expect to bounce off the strong line of support and have a nice LONG bounce day trade.
The STOCH is also strongly in the oversold position heading up.
The EURUSD is attempting at a new high in the recent days and I fully expect a retracement back to the 1.36210 level which will provide a nice shorting opportunity.
This I expect it to rise and possibly bounce through the tested resistance level and have it become a weak support line.
The Stoch is in overbought location and looks to be heading down which is good ...
Bounce off the trend line support that is also a major support line.
The Stoch is hovering in Oversold and the MACD is starting to turn around after dropping down strong.
If you want to do a quick short scalp and then ride the LONG position for a few hours that should be possible.
Cup and handle formation is forming. I would wait to get into it until it fully forms but looks like it will be a nice play for a good profit. If it does drop below the formation of the cup prepare for a nice short position.
The AUDUSD is forming the right shoulder as we speak. I am going to make a small quick play on the AUDUSD LONG until it finishin the formation of the shoulder. Then I will SHORT it until we get to the support line deciding if we keep going down or rebound to new highs.
Bounced off long trend of support and will head back up to next resistance spot!
Plus stoch is hovering around oversold and looked to be reboudning soon.
Testing support for the second time and looks to be rebounding up and heading in the other direction for a nice scalp.
The Stoch is hovering around the oversold position suggestion a nice LONG scalping opportunity.
Bouncing off of support and rally's back up to a small resistance level.
Expecting a nice scalp movement up and STOCH is also oversold.
Will wait to get in until the bar is finished at 9:00 AM just to verify bounce.
Nice channel bounce back down for a decent day trade with decent profits.
Also STOCH is hovering in over bought territory suggestion a nice scalp down as well.
Long Position based on the strong upward trend and the bounce back off the trend support.
Entering at: 1.36040
Stop at: 1.35939
Take Profit: 1.36225