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What happens next for this pair will be the clue as to what price is going to do next. This is why it is very important to be patient right now and let the market come to you.
The trade taken last week on this pair resulted in a break-even, as price formed a bull flag at the top of the...
On the 1-hour chart we can see price has been moving up pretty correctively to the upside. At this point, we really need to see what price does when it reaches the top of this pattern.
The more likely scenario is for it to continue moving to the down side, but of course, it could break out and move higher.
For either of these options,...
We can see price has moved impulsively to the down side after coming back up to form a double top within the larger bear flag pattern. A smaller correction would be ideal to take this pair to the downside. OANDA:EURUSD
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You can see what we are looking at a bit better once we jump down to the 1-hour chart. Price has formed a bear flag type pattern at the bottom of the larger bear flag we can see on the daily chart. This tells us price will likely continue to the down side.
In order for us to enter short, we...
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As you can see in the chart below, the price action for this currency pair looks better and better, now with this strong bearish momentum to the downside. We will be looking for an entry on the lower time frames to capitalize on this move. FX:USDCAD
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We can see the momentum from last week crystal clear in this hourly time frame. We are definitely looking for a continuation of this move at least to the previous low mentioned above. Looking left, we have seen price move with this amount of momentum before and still respected the...
Once again, good job to those of you who were able to catch this trade from our weekend breakdown. Right now, we are looking to scale in to the trade on the next correction, a small bear flag would be ideal to enter another position on this pair to the down side.
We will be targeting, at a minimum, the low of the ascending channel. If that level...
On the lower time frames, price is looking better and better to take short once it reaches the value areas. Either at the top of the larger bear flag or it might trickle a bit higher to the next high. We will just have to take a message from the market when the time comes.
If price forms price action like we have forecasted below, it would be a no...
The expanding pattern is very easy to see on this time frame. Even though we are anticipating price to continue lower to the previous low at around 1.0640, we cannot ignore the possibility of price reacting to the previous low in the pattern at around 1.0727.
If price rejects off this level and forms a small bull flag, that can be a great signal...
The longer price takes to reach the desired level for a short position, and the more corrective it is getting there, the better it is for us. This increases the probability of this bear flag pattern playing out to the downside.
If you take a closer look at the scenario we have outlined, price breaks the high of the pattern and immediately retraces back into the...
TVC:DXY 1-Hour Chart:
Moving to the 1-Hour chart, we can see what the price is doing a bit more clearly. It is moving towards the low of the correction seen on the daily chart in a descending channel type formation, which is usually a reversal pattern. This is why we think price could move back to the correction high before moving lower.
Alternatively, as seen...