USDCAD in Big Supply Zone, posting Divergence on Peaks
The COT report has shown an institutional decrease in Long exposure for the past 4 weeks on the GBP giving us a retracement from previous peak on the week of Jan 23rd. Despite this we can expect the pound to regain strength given what looks to be some hedging going on in the report and the JPY weakness. I'm definitely not 100% sold on the long idea as you will...
Looking at a rejection on the cross section of x2 Weekly Trendlines. Waiting for candlestick confirmation as could still be bullish.
News can obviously go either way but the Aussie looks Bullish across most pairs. As always we wait for news to commence and buy/sell the first retracement.
Video explains it but the Trendline Slash has occured RSI shows price not likely to break back through now looking for a ranged Shoulder to form within Demand & Supply.
Incomplete H&S Formation on the 1HR - looking for a strong down-move, potentially a weekly 1300 - 2000 pip trade.
we'll look to trade where it'll go anyway.
I have reviewed the Last EURJPY trade and explained why we have to make the first trade stopped out and then re-enter the 2nd one. and why the Inside Bar breaking down works so well. So click the video and enjoy learning :)