Here is a mark up on GBPCAD as I see it. I am attempting to fade the strength in the Pound against the Canadian Dollar which is currently coming off of 2021 highs. It is a 3-1 risk reward and I am looking for another rotation down to where there was a large impulse move up on the February 4th 2021.
Hey guys, i hope your Monday is going well and we want to share our opinion on the EURCHF. A few ideas before we took good profits on the sell side (linked below) and now after 3 level of bearish momentum with a divergence low we are looking for a buy. Price already made its way up and now is in a consolidation mode marked in yellow box. Our take profit is at the...
Simple short trade setup. Seeing resistance at the 2272 level, let's see if it works again. Look for an hourly bar to close below the green line - breaking the inside bar setup - and enter short. Use lower timeframes if you prefer to refine your entry. Target lower red line initially, but beyond that look for new lows. There's a good case that a reversal is due...
Failed to break through the resistance formed by last swing high
The daily chart is still within the support&resistance channel formed by previous swing high low. The weekly chart is supported by the support formed by previous swing high.