OnyxTradeHouse

OnyxTradeHouse Updated 

We had a fakeout out of the accumulation zone enticing buyers and now we have returned down to take out that liquidity and create a double bottom formation. Exactly 30 pips away from optimal entry and I'll be looking to enter when the Euro news releases today at 12:45 pm GMT.

OnyxTradeHouse

We could have a potential short position on USDCAD as we have an imbalance in the market on the 4HR timeframe which price needs to fill. To add to the confluences, price has touched our SC level which and is sitting at the 50% quarter level. With a 30 pip risk and 240 pip reward were looking at a 1:7 r/r.