We have two nice potential reversal zones in this setup. Stochastic is also nicely overbought so we just waiting for that drop to the downside. Ill add some more ideas to this setup.
Remember we no longer interested in this setup if price leaves the box from the upside. Look for a new trade.
All the best
We have a nice Bullish Butterfly setup. After the trend is done retracing im looking to short some more.
Check my other chart where im shorting the USDCAD on the daily chart.
Use risk management.
All the best.
Price is re-testing the resistance zone. Price is most likely to drop again.
We have a nice over bought area on the stochastic. A little more risk is involved in this trade since its on the 15min chart so trade with confluence and only if your trading plan agrees.
All the best :)
Price is currently at a strong resistance zone. We can expect a retracement/correction to the downside before going long again. I'm looking to short this pair when my trading plan agrees. Stochastic is approaching the overbought area. We also have a nice bearish divergence for a sell on the 1 hour.
Price has probably reached a lower high and its going to make its way down again. At the previous top we have a nice bearish divergence. The market seems to have retraced within the Fib. zones. If you use bollinger bands in your strategy you'll see that your candlesticks are touching the top bollinger band. There's a lot of confluence in this setup so lets keep watch.
I'm looking to sell this setup since it has approached a strong resistance zone. I do believe the trends upward impulse momentum has slowed down so expect a nice correction before selling. Stochastic is also nicely overbought.
My Target area: 78,200 - 78,000
Always apply risk management.