Currently in a range forming a flag on hour chart.
Potentially another move up.
However, bigger picture looks like its due for a deeper correction at some point.
Order to be cancelled if not trigger before Monetary Policy Meeting Minutes 11:30am Melbourne, Australian Time.
GBPCAD had a decent slow and choppy retracement up to 50%
My view is and has been a longer term bearish move.
Anticipating on a possible flag formation on lower time frame (possible H4 or even H1)
Keep in mind that ema200 on Weekly chart has acted as a great hold of Dynamic S&R
Watch for a clear breakout to retest previous high.
Price needs a deeper correction on higher time frame before another consideration to the downside. Keep in mind, the higher time frame is still bearish, so keep the long positions short term would be a fair play.
Last weekly candle, body alone covered previous bodies.
The weekly candle wiped out the previous 5 weeks of price actions.
My first option would be to keep selling the dips until or unless it breaks ema200 on the weekly and hold, then my view would be to continue to buy.
In the meantime, Keep the shorts.
NZDJPY price has been in a semi long correction where price has been consolidating for about a week.
Price looks to be squeezing for a break out.
I am looking for a potential double bottom or a bull fag on lower time frame before a bull run. The first option is my preferred set up it would provide a better R&R with minimal draw down.
Gbpcad showing signs of a potential move to retest previous top.
Currently in a complex correction but a move to the upside looks probable.
Ideally I would like to see it breakthrough aggressively to retest the top, will have to see how price behave in the coming weeks.
In the meantime, this is a move I’m anticipating for next week.
Been awhile since I've posted a video.
I found the chart more valuable as I can document and track the trade idea better.
This video isn't to put any negativity but awareness as I've made many mistakes in the past following 'experts'
Just remember, mistakes and problems are just an opportunity to learn and grow.
Good luck. Feel free to hit me up if you...