This is a possible reversal which i'm looking at, because the US index is going up, and the EUR index is going down but they are both approximating a resistance
and support respectively i wont be entering the trade until further confirmation, which most likely would be seeing the rejection on the pair and the indexes.
Im going to be watching for the big volume to come in next week, to determinate if we'll get a rebound of the trend line or a breakout(reversal) at that resistance level.
As for the yellow zone, those are possible supply/demand zone for possible take profit.
Also we can see the ABCD harmonic Pattern formed in the shorter timelines.
Im looking at a trend line that was form on 2/2/18 and the us/cad had been respecting it until 03/21/18 when a drop in price pull move the price enough to make a breakout, we should try to wait for a pullback and restest of this trend, to enter at 1.29600 and looking for the price to drop to 1.26110 for some 350 pips.
Pennant pattern often confirms a continuation of a trend if it breaks its cone. I'm looking at buying opportunity. SL would be if price goes below it. TP would be looking for 100ish pips.
The Pennant Pattern formed in a trend is a confirmation of trend continuation if it breaks to the up side, be alert if it does to jump in, i wound'nt risk more that 100ish pips. ST. just below the pennant.
