#USDCAD is presenting a nice bearish opportunity after breaking a Daily trend line. It came back to retest the broken are forming a nice HEAD AND SHOULDERS PATTERN with an H4 bearish engulfing candle on the second shoulder.
Our expectation is to see price hitting the 1.3000-1.28000 level.
WE HAVE ENTERED A PERIOD OF CONSOLIDATION ON THE 1D CHART, AND WE CAN SEE THE FORMATION OF DIFFERENT HARMONICS PATTERNS.
WE HAVE A H4 GARTLEY, AND AN UPCOMING BUTTERFLY PATTERN.
DESPITE EVERYTHING THAT'S HAPPENING WITH THE BREXIT, I FIRMLY BELIEVE THIS BULLISH MOVE WILL HAPPEN.
Here on our top Down analysis, we have GBPJPY that has formed a Weekly head and Shoulders Patterns, and it is currently getting rejected from a Daily Trend Line.
After Breaking the neck line level, Price has pulled back into the neck line level in order to retest that area before continuing in a massive down Trend.
The only way we will get involved is...
So Many Confluences
1. Market Retesting Daily Resistance
2. Conservative Entry Double Top with EK on H1
3. Aggresive ENtry on H4
4. 78.6 Retracement On Daily Chart
5. ABCD Pattern Completion
6. Daily Trend Line Retest as Resistance
7. Rising Wedge Pattern
8. Sell Divergence on RSI 14 (h1)
We believe GBPNZD will continue to go down to next Daily pointed Support.
1. Price rejected after a Daily resistance level
2. Price broke previous Daily Structure level, price is retesting level as Resistance.
3. Price broke trough Supporting Trend Line and retesting it as Resistance
4. Possible formation of an Head and Shoulders Pattern
This trade was sent out to my Team on Thursday. After Hitting a Daily level o Support that had been tested so many times, we waited for price to give us an entry reason on a lower time frame and we had a double bottom and there were the creation of a wedge pattern affirming confirming that a move to the Up side was getting ready to take place. We believe that...