Price is forming a small timeframe bullish pattern on a 8h structure. Could lead to a rally worth taking a risk on
ABCD pattern leading to top of the range supply zone, along w bearish price action, pin bar + IB can give us a clue of bullish weakness in the latest NU rally an we may be able to capitalize on a correction
Price is attempting to form a double bottom on previous broken neckline, also completing a bullish cypher on the 4h and a bullish bat on 1h. Early entry, but great risk to reward opportunity if it plays out.
Although institutions are largely out of the market on weekends and volume can be unreliable, the daily inside bar broke up and we can expect a quick push to 8000 level and possibly 9000 before testing further resistance
After breaking trend lines, structure and RSI trend line, will look to go short on CJ if price pulls back to broken neckline on 4h chart.
If levels 1.41 and 1.40 do not get violated, will look for UCad to continue bullish rally for a good risk to reward trade
Multitude of confluences point to a decreasing GU. Pin bar to the broken structure on daily timeframe already confirms an entry. RSI Break and ATR + Volume Consolidating signals weakness in uptrend and enough liquidity has been gathered during the past week of chop for a big move so lets see how this one plays out.
Daily Chart showing multiple inside bars highlighted which broke down, USDCAD could resume sell off
Similar to GU, GJ also broke out of consolidation wedge and looking to fall
Consolidating into a rising wedge has broken and a short term sell could give nice risk to reward ratio.
Consolidation leading to a rising wedge can mean a nice move to the downside.
Consolidation broke up and retesting breakout structure. 4h also shows us a bullish bat pattern was completed. Weekly and Daily chart both show inside bars which broke up. The daily IB is the setup for this trade.
Confluences could lead to Big Reward with Minimum risk! Aka: Value Investing On Daily Chart Price has shown: - Strong support from $21 - $22 - Down-Trend line was broken - Bullish Bat completed at LOW location on chart - RSI Oversold 1:2 Risk/Reward ratio Chance of large long term gains if weekly bearish bat is completed around $34
- CRON had a 300% increase in price between 2018-2019 - Followed by a seemingly healthy technical correction reaching the 618 Fib level - Now, price has attempted to break that level twice, and failed - On RSI, trend-line was broken and new higher low formed - It has also formed a textbook bullish candlestick pattern on second...
Daily Confluences: - Supporting trendline - Support Level around $10 - Bullish Harmonic - RSI Divergence - RSI Higher Low - RSI Broken Trendline
Daily Confluences: - Structure/Demand Zone - ABCD Completed - Bullish Harmonic - RSI Divergence - RSI Higher Low
Many signs point to an change of trend at a key level, we can keep an eye out on EG in order to find an entry point for a possible 100-300+ move. 4 Strong Confluences on Daily Chart: + Bearish Bat on Timeframe + Channel break down + Strong rejection from 88 fib level + RSI bearish divergence = Possible swing trade Optimal entry, as close as possible to previous...
If we see bullish price action near the 618 or 77 fib levels we can expect to see another bullish run.