Lets start 2021 with a bang. Multiple scenarios for a strong sell off on NZDCAD following break of structures , manipulation and liquidity blocks that have been tapped and yet to be retested which have been removed from the chart for a clean perspective. Forecasting more than one outcome prepares your Subconscious to adapt to change and not fixate on one...
My personal top 3 strategies have fused into this one set up on EA. For confirmation I need a strong rejection of the bank level below or structure. Then the execution criteria has to be met on the smaller timeframes with the valid confluences.
Multiple bank levels at an outer structure which gold is approaching will be monitoring for confirmation for a potential entry
Currently anticipating some corrective structure towards the liquidity level which is a retest of the active order block (Imbalances between buyers and sellers)
A daily bearish pattern is still in play even though price has broken the daily wedge to the upside . That piece of information is outdated so I'm focusing on the current H4 price action which has formed a wedge pattern that has retested the daily structure forming a corrective structure. Order blocks / Imbalances (bank Levels) are active and have left a retest...
Following the close back inside the weekly channel price has formed a bullish pennant which has broken north. The current most relevant pattern is active showing a 3rd tap / bank level area for a potential buy.
Price is at the top of a larger daily market structure forming an ascending on the 1-4 timeframe. This is a key sign price can depreciate as we now have a tap of the trendline and a rejection just below the bank level. Both the DXY and New Zealand Futures are showing correlating direction to push NU down. The stop loss is placed above both structures with a...