I marked important zones for trend and counter trend trades in USDCAD. Waiting for entry reasons in 5 minutes timeframe.
Following up from yesterdays trades, I had a very clean entry here off the 15 minute chart once we saw an impulsive move towards the 1.12600 key level.Unable to break above the previous high. Smart money and sentiment is still bearish. Almost smashing through 1.11600 as I predicted. How will we look moving into next week? I believe further downside is bound to...
USDCAD: broke below 1.39750 key psychological and snapped back above support (fake out). Price managed to close off a strong daily candlestick which engulfed six days of daily price action (notice the size of the daily engulfing). Scaling down to the 4hr time frame we can see price ranging between 1.39500-1.45000. Also notice how price broke above this down...
This pair should complete the double top which is not retesting its neckline, and from there, as we know that 90% of the time after a pair complete a reversal pattern, it will then go back to the neckline again, that movement will be creating the right shoulder, which will from there let this pair fall very heavily to complete the H&S
Lets see if this double top, the flag will push this price down again!!
We are still expecting BAW to go up because of the cup and handle setup!!
We are expecting this pair to fall because of the H&S that has just built and we are not at the right shoulder
We are having a spring effect on SBK and we are expecting it to continue falling
On a higher tf we have MTn still going down because of this H&S
We are expecting this pair to fall a little bit to create the right shoulder before it continues to go up!!!
We are expecting this one to do up for some time!!
We are going up based on a falling/bullish wedge and inverted head and shoulder setup that we just drew in our chart!! please use your own risk management and goodluck