Potential Buy Setup on CADCHFOn CadChf, price has been channeling through a bearish channel for quite some time now. Within this channel, price action has created a Daily Significant Level that price has just recently approached. Considering we've experienced significant bullish rejection off of the Non-Horizontal Support Level and are continuing to create bullish market structure, I'll be looking to capture a bullish rally in the near future.
I believe that if price manages to break and retest the current level its at right now, I'll monitor rejection off of the level before placing a buy order to target a potential movement towards the upside. Let's see if we could get some more buyers in play🙌🏼
Breakandretest
Potential Sell Setup on CADJPYOn CadJpy, we've been creating bearish market structure ever since price has approached the long-term Weekly Resistance Level.
On the short term, I'll be waiting for price to reach the Significant Daily Level before presenting bearish rejection towards the downside. Once bearish rejection is present at this predefined level, sells are viable. For now, just waiting for a full retracement back to the horizontal level.
NFP Event on AudUsdLooking at AudUsd, the sentiment of the pair has contextually changed over the last couple of days. With its bullish push to possibly break market structure, we could be seeing more bulls come into play.
An interesting news release that could cause a bullish or bearish breakout for this pair is the NFP event tomorrow afternoon. This should cause a high volatility movement in one direction that usually sets the underlying tone for the pair. I will reassess the pair after the even tomorrow afternoon.
Sell Setup on GBPJPYLooking at GbpJpy, price has been establishing a bearish downtrend channel ever since we've come up to the long-term Weekly Resistance Level. Within this downtrend channel, price has now found itself approaching a Significant Daily Level and Non-Horizontal Resistance Level. This pivot point could be a catalyst to drive price towards the downside.
For confirmation, I'll be waiting for a strong bearish H4 candle closure before verifying that any seller sensitivity is present around this area. If there is, sell orders will be viable.
Sell Opportunity on GBPAUDLooking at EurAud on the daily chart, price is exhibiting a steep bearish retracement after a strong bullish rally towards the upside. I believe that more bearish movement will follow until enough liquidity is found for buyers to drive the price towards up! For the time being, price could possibly drop towards the Non-Horizontal Support Level that is identified.
On the H4 charts, we could notice that price has just recently broken a Significant Daily Level. If price could come back and retest this level as resistance and reject away with a strong bearish H4 candle closure, we could see a continuation towards the downside. Just waiting for the retest, then a confirmation candle to prove seller sensitivity.
Potential Buy Setup on AUDJPYWe have a similar buy setup on AudJpy like the one we did on AudUsd. Price has a long-term bullish sentiment, but is currently retracing back to a Significant Weekly Level before possibly finding support to drive price back towards the upside for a bullish continuation.
If we have a break and retest of the current Daily Resistance Level, I'll be waiting for price to show bullish rejection before looking to place any buy orders. Just waiting for the buyers to show themselves.
Sell Setup on NZDUSDLooking at NzdUsd, we could be seeing a potential sell setup forming. Price has been creating relatively downtrend structure ever since we've ran into the long term Non-Horizontal Resistance Level.
Throughout this "choppy" downtrend structure that price action has been creating, there's an interesting pivot point that could potentially drive price towards the downside. This pivot point is comprised of a Significant Horizontal Daily Level and a Non-Horizontal Daily Level. I'll be waiting for price to exhibit strong bearish rejection away from this area before placing any sell orders.
Sell Opportunity on EURJPY On EurJpy, price has been in an overall bearish retracement for quite some time now. Unless the buyers prove that they are taking over, my bias will continue to be bearish for the time being.
We could notice that price has fully retraced back to a Daily Significant Horizontal Level and bearish pressure is identified. If we could get a strong bearish H4 candle closure away from this level, I'll be looking to place sell orders.
Potential Sell Opportunity on CADJPY CadJpy is beginning to form an interesting sell setup if it's able to break the current Significant Daily Level that it's testing for now. We could see that market structure has been strongly bullish until it reached the Weekly Resistance Level. Once price came to this zone, structure is beginning to switch from bullish to bearish.
If price manages to have a bearish break past the Significant Daily Level and come back to retest with significant bearish rejection, I'll be looking for potential sell orders.
Sell Opportunity on AUDJPY On AudJpy, I'm looking for the same type of deal that we're looking for on AudUsd. Price has retraced back to a Significant Horizontal Level, and now I'm just waiting for proper bearish rejection. This pair may be a little trickier because the Daily Level is not as defined as the other AUD pair.
With this being said, it could be possible that price may overextend into or past the Horizontal Level before displaying proper bearish rejection. I'll have to be very disciplined on this one, and make sure that price is CLEARLY rejecting away from the level before placing any sell orders. And just to clarify what clear bearish rejection is in my subjective opinion, a strong bearish candle closure on the H4 chart. Stay patient👌
Sell Opportunity on AudUsd On AudUsd, price has fully retraced back to the Weekly Horizontal Level, and is beginning to show some bearish rejection on the daily timeframe.
Scoping into the 4H chart, I'll be waiting for a strong bearish candle closure before confidently placing a sell order on this pair.
Sell Setup on EURJPYOn EurJpy, price has been in an overall bearish retracement for quite some time now. Unless the buyers prove that they are taking over, my bias will continue to be bearish for the time being.
We could notice that price has fully retraced back to a Daily Significant Horizontal Level and bearish pressure is identified. If we could get a strong bearish H4 candle closure away from this level, I'll be looking to place sell orders.
Buy Opportunity on USDCADOn UsdCad, a potential buy setup could be forming. On the daily timeframe, it could be identified that buyers seem to be taking over this pair for the time being. I'll be attempting to ride the bullish wave while it's trending.
On the smaller timeframes, we could notice that price had a strong bullish rally towards the upside followed by a huge selloff that brought price back where it initially was before the bullish rally. If we could pullback towards the pivot point that includes a Daily Significant Level & a Non-Horizontal Level, I'll be looking for bullish rejection before placing buys on this pair.
Sell Opportunity on EURJPY Looking at EurJpy, we could identify a sell setup beginning to develop. Starting on the daily timeframe, price has been in a steady bearish retracement for quite some time now. Until the buyers show that they are taking over, I will continue to ride this bearish retracement.
On the lower timeframes, we could notice that price has cracked below a Daily Significant Level and failed to push towards the downside. We then snapped back above the level very briefly before cracking back below and testing for the time being. If price could show a strong bearish H4 candle closure off of this level, it would identify selling pressure around this area and downside potential for the future. Just waiting to see how the next couple of candles close before pulling the trigger.
Sell Setup on NZDJPY We have a simliar setup on NzdJpy that we did on NzdUsd. Price has recently broken the Weekly Significant Level and come back to retest it for the time being.
Now, all we need is a strong bearish candle closure off of the zone to signify the selling pressure at this area. This would identify downside potential for the future. Just waiting to see how the next couple of candles close before executing any sells.
Sell Setup on NZDUSDA sell setup seems very interesting on NzdUsd. Price has had a bearish push past the Significant Daily Level and is currently retracing back towards the level.
If we could get a complete pullback to around the .69200 zone, I'll be waiting for bearish rejection per usual before executing on sell orders.
Buy Setup on GBPNZDA buy setup on GbpNzd could be forming for the time being. We have had a bullish break past the Significant H4 Level and slowly but surely we've come back to retest it for now.
If we could get a strong bullish candle closure off of this level, that could identify possible upside potential for the future. For now, just waiting for significant enough rejection.
Buy Opportunity on EURNZD Looking at EurNzd, price has had a strong bullish push past the Significant Resistance Level that price has found difficulty to break in the past. Now that we've taken over this level, it could be used as potential support in the future.
We are currently sitting around this Significant Level for the time being. If price could create a strong bullish candle closure past the hourly highs that price has found difficulty to break, I'll look to go long. Just for clarity, I'll want a break past 1.71500, with a candle closure before thinking of any longs.
Buy Opportunity on CHFJPY The ChfJpy trade that I called out last week would've pushed into profit at market open this week. This strong bullish push could be a predictor for future movements. We've just recently snapped past a Significant Horizontal Level. This Horizontal Level also lines up with a Non-Horizontal Support Level, which adds confluence to the predefined area.
Considering price practically retraced back to the level already, I'll be waiting for a bearish candle closure back to the level, proceeded by a strong bullish candle closure confirming the buyer sensitivity at the area.
Sell Opportunity on AUDJPY We seem to have a similar setup on AudJpy as AudUsd. Price has had a bearish break past the Weekly Significant Level and seems to be retracing back for the time being.
Although this setup seems much more developed, I'll still be waiting for price to extend all the way into the 79.500 region. If a strong bearish candle closure is identified around this zone, I'll look to take shorts.
Sell Opportunity on AUDUSDOn AudUsd, we've had a strong break through a Weekly Support Level. This could be signifying some bearish momentum for the future. Considering the long-term momentum is bearish, I'll be looking for sell opportunities on this pair.
If we could get a retracement back to the Weekly Significant Level that it just recently broke, this would be a good predefined level for potential downside movement. I have my alert set if the retracement sets up.
USD/CAD Technical AnalysisAs can be seen on the daily chart, prices have broken the bearish trendline and also a cup and handle pattern has been printed. Both the trendline and the neckline of the pattern has been retested and now it is time to enter for a long position with a take profit target around the 1.29 area.
Sell Opportunity on AUDNZDOn AudNzd, price has had a strong bullish retracement back to a Weekly Horizontal Level and Non-Horizontal Resistance Level.
At this pivot point, price has began to stop its retracement and look to create an H4 bearish candle. I'll be waiting to see how bearish this candle could close. If we could get a strong candle closure, I'll be looking to go short and target the previous lows that were created. Just waiting an hour to see where we're at.
Buy Opportunity on CADCHFOn CadChf, we could be seeing a buy opportunity presenting itself. Price is channeling throughout a bearish channel that seems pretty clearly identified. We've had bullish rejection off of the bottom of the channel and cracked through a Significant Daily Level. This could be identifying some sign of strength for the near future.
I'll be waiting for a strong bullish H4 candle closure to occur around this level before identifying if this pair has upside potential. If we could have a strong bullish candle closure, I'll most likely go long with my targets extending to the top of the channel.