USDCAD | Market outlook This week FOMC minutes meeting would be the key event in the US. The short-term momentum still shows some strength in the dollar that will be challenged over the next sessions.
Liqudity
GA LONGThis trade is based on various different confluences, Higher timeframe is still bearish however, on the hourly we have mitigated of nice areas of demand forming bullish orderflow. We have plenty liquidity grabs and a break of a supply zone to the upside. Finally we have re-accumulated at a trendline which indicates we are about to take retail liquidity from trendline and all the lower highs. I have two entries in place and I will split risk between them both.
GBPCAD ShortI will let you know when i enter, i want price to come up at my entry and see 1-2 wicks on 5m. Lets see
Mitigation of ,,FU" candle H4 TFMitigation of ,,FU" candle H4 TF, wait for distribution, TP1 is liqudity. TP2 is D1 low.
GBP/Jpy shifting bias to upside. to around 144.000 Buy setup!!!the bias of gbpjpy has shifted based on market structure. we shall now want to see break of previous high . nice retracement and move to our target around 144.000 area with high liquidity
follow me for more updates
Navigating The Market : Monday with Tue/Wed RelationshipThis write up is an extension to this post :
The concept is when the price on Tuesday or Wednesday broken and close above the Monday high, generally that potentially could be the "anchor" /high of the week hence the intraday trend of that week will rooted from this. Vice versa. Of course, this doesn't happen 100% of the time but it happens repetitively. Usually, this block (Tuesday-Wednesday) is, very often, the "final stage"/"final push" from the institutions with their price-fixing/stop hunts/liquidity hunt. It tends to extend until Thursday or Friday but generally, those block (Thursday-Friday) tend to be a profit-taking day for the banks
