looking to short #USDCAD if some criterias are being metUSDCAD which has been on a downtrend had broken our weekly support key zone now turned resistance, retraces coming back to retest, gives us a double top inline with our ema, rejection at 781 fib level, we will wait for it to break our ctl before looking to go short, but there are a lot of confluences inline already to make us consider going short. Knowing how to plot these key levels, knowing how to use your fib properly is key too.
Forexmentor
I will be going short on GBPAUD GBPAUD has broken and retested our resistant turned support zone on the daily chart, closed previous day candle was a shooting star pattern rejecting on our ema. And also considering that audusd and gbpaud negatively correlates, audusd is in an uptrend, so we expect gbpaud to drop likewise, with other technical analysis i will not clearly state here clearly for my premium members, i will be going short on gbpaud.
WHY I AM GOING SHORT ON GBPCHFI have been watching gbpchf for a while now, going in depth to the technical analysis , you will notice that a very strong trend line on the daily candle has been broken, after giving us a reversal head/ shoulder pattern inline with my monthly support region. This rejection and reversal pattern here tells me there is bound to be a reversal, looking at the daily candle, you will see a bearish marubozu candle after it breaks below the daily trendline, we will now step to the lower timeframe in search of our entry point using the ema, candles stick formation for confirmation. Join my private group to know how to make this entries using the ema i use and also how to properly analyse any market and make good profit out of it, also join my free telegram channel via the link below t.me
GBPUSD ABC patternThe GBPUSD looks to be completing an ABC pattern . At around 1.283 we have the AB=CD level where we are expecting to see some signs of supply entering the market. If prices break and close strongly above 1.283 we will be looking towards 1.300 zone which represents the 1.27 AB=CD.
Expecting the market to wave upwards so as long as prices remain above 1.2400 , we will be looking for buy signals on pull backs until we arrive at the 1.277-1.283 zone.