Strong impulse move, follow by accumulation and distribution, moving side ways and trapping retail traders, creating liquidity all around.
Right, we're looking for a pullback to 3 key areas to take a LONG position.
GBPCHF H1 - SHORT
Price broke down of a support area and is now consolidating or moving sideways.
Definitely looking towards a downside breakout for AT LEAST a 1:1.24 R/R. If possible, we will be looking for a pullback on the lower timeframe to capture a move towards next support area.
AUDCHF H1 - SHORT
Look for a clean breakdown off the immediate support area.
Afterwhich, look for a pullback to capture a move towards the next support level @0.71650 for better risk to reward.
Stop loss above 0.71900
AUDCAD H4 - SHORT
Prices may have turned from an uptrend to a downtrend, with the breakdown of a major swing low, with prices creating lower swing highs and lower swing low currently.
The area we are interested in would be the resistance level @0.98000, potentially creating a lower swing high.
Look for bearish price action and depletion of bullish momentum on...
GBPAUD H1 - LONG
Prices broke out of descending trendline with strong bullish momentum, now looking for a pullback onto previous structure.
We have yet to see any sort of bullish sentiment or buying pressure in the market and therefore, waiting for that to happen before taking a LONG position towards the next resistance area.
GBPCAD H1 - LONG
Prices may have found support 1.75600 area and showed buying interests, creating a strong bullish move upside.
We are looking to catch a move if we get a retracement, taking profits at previous high. Depletion of bearish momentum while approaching our zone before taking a LONG position.
EURUSD H1 - LONG
We see a depletion of bearish momentum as prices approaches the 1.21450 support area.
Currently retesting this area and we will want to see bullish momentum or buying interests over here, at this crucial level.
A strong move upside allows us to catch a pullback entry towards previous high.
GBPNZD H1 - SHORT
Prices made a strong bearish breakdown, invalidating the ascending trendline and support area.
We are looking for a pullback onto previous structure for a continuation SHORT, with take profit target @1.89000 support area.
EURNZD H1 - SHORT
Prices hit our TP at previous low, now potentially forming a double bottom, failing to break below the support area.
Look for SELL opportunities as we are looking to trade with the trend. A breakout towards the downside will be a great opportunity for us to get into the trade again.
NZDJPY H1 - LONG
Prices are in an uptrend, constantly making higher swing highs and swing lows.
Currently testing the support area and if we see bullish sentiment over here, we can take a LONG position.
GBPCAD H1 - LONG
Another way we could look to LONG GBPCAD is if prices find support at this level, showing us strong bullish momentum.
After which, we could potentially play a limit order to catch a pullback trade as well. Same TP area, but with a different SL level. We will get to that again if this happens.
Prices formed a double top onto a resistance area, now looking for a breakdown off the neckline structure. Look for selling opportunities on the lower timeframe to catch a move towards the next support area, indicated by the range arrow shown in the chart!