Currently watching USDCAD during a possible completion of another ABCD pattern . I will not be holding this trade until it reaches D because it could possibly form a double top. I'll be taking profits when it climbs back to B price point 1.318.
So we have 2 months down trend. On daily timeframe we can see a nice forming channel, maybe 0.50% fibonacci will hold we have brn ( big round number 0.7500 ). Next potencial long opportunity is at 0.618% fibonacci hold, daily demand zone.
Price rallied on friday following an area of consolidation. Bullish momentum to the upside. Confirmed with the cross between the MA's. Wait to see what happens on monday to determine position however, very much a bullish bias . Target 1: 10400 Target 2: 10700 Assess the market at critical levels of interest.
Look to buy on a 1hr candle break and retest of 161.35 levels. If it fails to break 161.35 levels you can be almost assured sellers will take it down to 159.70 levels...
EURUSD BREAK STRONG TREND LINE WITH BIG BEYARISH CANDLE ... WE WILL TAKE ANTRY AFTER TREND LINE AND SAPPORT ZONE . BEST OF LUCK
Just places my orders for this cypher pattern in the USDCAD. This pair has been in a short term uptrend so we can definitely see another rally here. This setup contains two fibonacci based target points and a stop loss below X. Let's see what happens! Good luck trading everyone and make sure to follow us for more ideas.
Possible short on the EURUSD for about 20 pips. It is in a minor trend north but is currently tapping resistance level 1.1194 in a recently formed channel.
MA's confirming downtrend, waiting for the 50MA to cross the 200MA to confirm position. Low volatility and indecision in the market waiting for direction to be decided.
If the price breaksout of the bullish channel with an area of consolidation or a pullback to the previous SR zones for a last kiss we can expect a sell. If not, the price could continue to make higher highers and get rejected at the trendline. Divergence can be seen on the MACD 4C confirming the halting trend.
i have been looking on this pair for quite a long time , i keep waiting the price break the trend line support ,as you can see the price has been supported 3 times(blue rectangle) before, and now the support has broken ,as you can see the red rectangle ,and all of these conclusion support me to short this pair