USDCAD very nice bounce off the Weekly TL and has now given us favourable price action to look for shorts with 2 Daily pin bar closes. Now approaching back up to the 1.32500 level where I have my sell limit orders.
If we sell off back down towards the low and break it we could be in a very good long term sell for USDCAD.
Waiting to be triggered now!
Very candle stick rejection formed at a key resisting Trend line on the weekly.
On the weekly there was an accending channel which has been broken.
There was a an impulsive leg breaking the neckline of the H&S pattern. Now I am waiting for a pull back to the neck line with pending orders in that region with stops above the right shoulder. (4hr)
Really looking at two levels to go long as I really believe EURUSD is really over extented and just forming a falling wedge which is a reversal pattern.
Waiting for hourly close to look for longs from my TL.
As it stands now I will set my break even at 15 pips profit and hopefully we get some follow through.
RIsk is around 15 pips so its all good. If we...
Similar to my XRP set up from earlier this week.
I see another ABCD pattern being formed. I hope we dont just fall out but I belive we could go back to 8300 level.Once I get the structure I want similar to XRP I will be going short.
I will update you as it unfolds.
This is very corrective structure and a big short is coming on USDCAD. Despite USoil Selling off I can see a dramtic decline in the USD in the next couple of weeks or months.
Many of the major USD pairs are are very key inflection areas. Lets see if price reaches the blue zone to give another touch of the resisting TL to go back to the downside. Long Term I am...
What I am seeing.
Price has rejected the .47500 level nice confirming that level as a key resistance. We have now formed a bearish continuation flag pattern and we should complete the ABCD pattern at the .46 level. I will be looking to see how price behaves there to enter shorts.
What would invalidate this trade would be a continued push to the upside breaking...
GOLD has been very nice to me recently and has just been moving smoothly to the downside.
However the first obstacle is at this supporting Trend line which we will have to see if it is validated and gives us a bullish signal.
Price has also been forming a flag pattern. I can see there being a lot of orders from the 1265 level to take us back up around $30...
My bias based on the weekly closures on GBPUSD are quite bearish .
This is based on my technicals which based on the weekly time where we had two weekly closures which suggest the bulls have been losing to push price any higher.
Taking it down to the daily we have been making a series of lower highs and lower lows but yet to break the 1.30 even level which has...
EU broke out of this box on the 4hr and is now retesting it on the hourly.
Will be targeting back up to the 1.13200 area to take profits.
H&S shoulders pattern also formed which could be a signal of a double bottom as Brexit continues to get delayed.