Short

USDCAD: Day 3 cycle, First Red Day

Updated

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

Monday DAY 1 Opening Range ✅ Day 3 cycle
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range

2. SIGNAL DAY

First Red Day ✅
First Green Day
3 Days Long Breakout
3 Days Short Breakout
Inside Day

3. WEEKLY TEMPLATE

Pump&Dump ✅
Dump&Pump
Frontside
Backside ✅

4. THESIS:

Long: secondary, after the dump of Friday, the market can consolidating down low into the current LOD, going to stop short trader in profit from previous HOW
Short: primary, Monday to Friday possibly built order flow for a potential quick short move into the LOW, where trader long bought for a whole week

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Note

Today is US bank holiday, I would not be trading, intraday chart and setup will be updated on tomorrow Tuesday 28th of May, have a lovely day traders!

Note

Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance ✅
Wednesday DAY 3 (reset DAY 1) Mid Point Week
Thursday DAY 2
Friday DAY 3 Closing Range

2. SIGNAL DAY

First Red Day
First Green Day
3 Days Long Breakout
3 Days Short Breakout ✅
Inside Day

3. WEEKLY TEMPLATE

Pump&Dump ✅
Dump&Pump
Frontside
Backside ✅

4. THESIS:

Long: N/A
Short: Market placed a lower low, pumping back up into the yesterday LOD (current LOW). Right now looks is consolidating, probably preparing for a potential lower move, completing the weekly pump and dump scenario. Do not forget that traders long are still in profit since the last week!

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Note

The market at the moment is preparing the setup, hopefully it will hold till 10am NYT. A consolidation at the current level for a potential dump is my only option to take this trade today.

Note

Price action pretty choppy, I dont recognise any kind of setup, chance are very low to catch a move on here at the moment

Note

No setup identified on USDCAD today

Note

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

Monday DAY 1 Opening Range
Tuesday DAY 2 Initial Balance
Wednesday DAY 3 (reset DAY 1) Mid Point Week ✅ day 2 cycle
Thursday DAY 2
Friday DAY 3 Closing Range

2. SIGNAL DAY

First Red Day
First Green Day ✅
3 Days Long Breakout
3 Days Short Breakout
Inside Day

3. WEEKLY TEMPLATE

Pump&Dump
Dump&Pump ✅
Frontside
Backside ✅

4. THESIS:

Long: primary, although Asia already pushed into the HOW, potentially giving the setup of FGD, the higher high followed by a dump could be the potential anchor point for trend continuation, if market dump back into previous level (CP,LOD ..)
Short: secondary, market at HOW, other time frames involve potentially in the next move, I do not exclude a bearish move back into LOW or previous LOW (do no forget "where are the money??"

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni

Note

Short scenario

Long scenario

Note

Price currently working the high (look at the short scenario)

Note

Dump and pump almost completed, read the last thesis for a better understanding :)

GianniPichichero

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