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Forex-analysis

GBP/USD - 11/01/2022Happy new year, yesterday was my first day back to the charts for the new year. Hope you all had an amazing Christmas. Kicking off my first post of the year with this GBP/USD set up. (H4) - We are pushing into resistance on this pair for the 3rd time and I am expecting price to break out, regardless if this is a true or false breakout we can hopefully pull some profits from the market. (M15) - As we are looking to capitalise on higher time frame momentum I want to see price begin to break the resistance and produce a wick to the upside. I will then be waiting for price to create a small pullback with a wick and then enter on the break of the previous candle high with stops below the key level. What are your thoughts on this?
Long
by Official_VIFX
USD/CAD - 03/11/2021USD/CAD (H4) - don't be fooled with price breaking out of consolidation, the range has just extended to that fake out and has not clearly broken so we cannot target buys with the HTF direction until price breaks 1.24286 USD/CAD (M15) - similar to GBP/JPY we are in this consolidation, ideally I will want to target sells on the break of 1.24156 which could be a risk as it is only an interim level but if this fails then I will be looking to buy the market at 1.24209 and just wait till price reaches the H4 resistance to decide whether we should hold.
by Official_VIFX
GBP/JPY - 03/11/2021GBP/JPY (H4) - price currently floating around in this range, we are still maintaining bearish structure on the H4 and we have multiple wick rejections to the upside showing price to break higher so I am leaning over to sells more than anything but if this changes I will adapt to the market with plans for buys. Targets for sells will be 154.742 and buys 155.887 GBP/JPY (M15) - we can see this consolidation a lot clearer on the 15 minute timeframe. We could use the trendline on the current leg of the M15 to look for breaks to short down to support of the consolidation on the 5 minute but the big trade will be if price breaks 155.073
by Official_VIFX
USD/CAD - 02/11/2021USD/CAD (H4) - Still not left this consolidation but price is showing very bullish. I will still be waiting for the break of 1.24030 to look for anything major but we do potentially have a nice trade for a small R that we can take up to resistance. USD/CAD (M15) - Price has broken out of resistance of 1.23847 if we get price retesting this level then we have a 18 pip rang where we could squeeze a 1:2 up to that H4 resistance but we need that retest first.
Short
by Official_VIFX
GBP/USD - 02/11/2021GBP/USD (H4) - weak break out of support of 1.36713 and price has found new support of 1.36510. We have formed and hourly double bottom but I don't believe this will hold and price should follow suit bearish with GBP/JPY. Just need to wait for the break. GBP/USD (M15) - Very messy structure here so just bear with this one. Try avoid the noise and just look for price tapping back into 1.36478 and look for the break for sells as this would be the break of H4 support.
Short
by Official_VIFX
GBP/JPY - 02/11/2021GBP/JPY (H4) - Finally broke through that support level of 155.993 with really strong momentum and have just closed below the next support to with the last H4 candle, momentum has not continued from the break of 155.380 but price is failing to break back above which is showing good signs of continued sells. We could just be seeing a retest before price continues bearish throughout pre London and London open. GBP/JPY (M15) - We can see how weak this pullback is on the 15 minutes. 1) we can see clear bearish structure being presented with the lower highs and lower lows forming. 2) the strong M15 break and weak retest suggests sellers are still in control. 3) we have a new low being formed which we can use as an entry level for continued sells.
Short
by Official_VIFX