USDCAD finally tapped into a HTF VAPrice finally tapped into the HTF value area and immediately retraced and closed with a heavy body H4 candle within structure.
I am now looking for a continuation short. Based on the size of the structure the continuation has to be more weighted and therefore in minimum a structured H1 bear-flag.
There is still the potential for a trap and price moving higher. The D1 candle is is still bullish and did only wick through the VA by about 20%, therefore the overall setup is higher risk and a clear confirmation for the continuation short is required before entering a trade.
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Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
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Riskentry
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Purple Zone: Safe Entry
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Citron Research has a $100 PT.
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Bullish MACD cross
Consolidating for the past 113 days
AUDUSD 4H-1DThis time, we are looking forward to short on AUDUSD i may call it risk entry. First of all, we are following downtrend (trend is a friend until the end). And also we can tell its channel that bouncing between the upper trendline & lower trendline. Besides, you can confirm it by yourself that there is a fibonacci level at the this price level unfortunately i did not drawn on the idea.
AUD/NZD update! potential long soon in accordance with my previous forecast where i took a BE and some profit out of the short from, price is now at the 90% rule of the structure, where i am looking for price to break the low before moving in the forecasted direction long. if price is to form an element of structure leading to the third touch breaking the low to the left (the 90% rule) i will be looking to play the area, and structure and enter on a 4H time frame, and will hold this position over the next coming weeks. - there will be scale ins along the way and this is something i will be looking at also.
have a good week everyone!
Maruti Suzuki on a long Run🤑🎯🏃🙆1• In my last week's analysis I had told that Maruti Suzuki is moving in a triangular shaped pattern, and if it breaks it there's no stopping it.
2• As I forecasted last week was great for Maruti Suzuki locking 2.5% profit on it .
3•. For those who have missed this entry have another entry shaping up nicely for the week ahead.
4• Be patient let the market show you confirmation and then enter the trade.
Have A great week ahead🎯🤑
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Short-term Sell on AUDCADOverall LONG trend on the pair that needs to be supported by a short-term sell for the rally to continue to the upside.
Market printed a 'W' formation on the Weekly and the SHORT is based on the retracement to the neckline of the structure.
Confluence is further supported by an increase in LONG contracts of Hedge funds in Canadian Dollar, strengthening CAD and more SHORTS and weakening of the Australian Dollar.
FOREXCOM:AUDCAD
Target areas:
SL: 0.94300
TP: 0.88950
GOLD - SHORTbroke the daily double top then price retraced instead of heading for the outer structure, currently creating a bear flag to head lower looking for the 3rd touch of the flag before entering short. if we trickle to the 3rd touch of the flag then risk entry and if this trade commits ill be looking to hod it long term at leas t to the low of the pattern
UJ short. Back at key areaUJ is once again at the same key area as the previous last 2 big short trades. Still needs a bit more development on the 1hr time frame for me to take this as a risk entry however i will be keeping a close eye on this at the start of next week.
If we fail to get a clean pattern before the drop ill look to aggressively take an entry on the first continuation that is formed.
Ideally we get a corrective arc back up to the key level and get a big 1hr bearish engulfing as the entry.
UJ shortUJ is once again at the same key area as the previous last 2 big short trades. Still needs a bit more development on the 1hr time frame for me to take this as a risk entry however i will be keeping a close eye on this at the start of next week.
If we fail to get a clean pattern before the drop ill look to aggressively take an entry on the first continuation that is formed.
Ideally we get a corrective arc back up to the key level and get a big 1hr bearish engulfing as the entry.
Aud Jpy key short areasPatterns withing patterns are some of the highest probability trades that we get.
We now have a clear mini ascending channel forming inside the larger ascending with potential for both the 3rd touch areas to line up.
Price could however form a continuation here and then drop so we will have to be patient and wait and see if price can correct up to the key areas or if it will start to move down
now that we have broken the key support area on the left.
AUD JPY Key short areasPatterns withing patterns are some of the highest probability trades that we get.
We now have a clear mini ascending channel forming inside the larger ascending with potential for both the 3rd touch areas to line up.
Price could however form a continuation here and then drop so we will have to be patient and wait and see if price can correct up to the key areas or if it will start to move down
now that we have broken the key support area on the left.