EURCAD with a downtrend structure creating lower highs and lower lows, currently about to retest a resistance level in confluence with a descending trenline, fibo 61,8 and most of all a strong supply zone. Wait for a candlestick confirmation of your entry such as pin bar, outside bar ...
5 reasons to enter the market:
downtrend
horizontal resistance
descending...
EURJPY seems to be at the end of its long term Uptrend, breaking through the ascending trendline forming what seems to be the Head and Shoulders formation. Expecting to retest the neckline, gain some pips to form the Right Shoulder and then drop down at the strong Supply zone. After the price approaches the zone, ONLY CONSIDER YOUR ENTRY if the Volume is high and...
AUDCAD at the end of a long term Uptrend created a Head and Shoulders formation, a signal of a possible change of trends. Price dropped below the neckline to retest it from the bottom and be hammer down due to High Liquidity Supply zone.
Multiple confluence factors:
4H Downtrend Structure - LHs and LLs
Descending Trendline
SMA 50 + SMA 100 Resistance
Fibo 61,8...
