Classic picture of institutional absorption as price compresses into a previous level of demand. Now sellers are trapped and go signal confirmed when final absorption occurs above the last low. On 5 min chart you will see 3 waves of compression easier. Absorption of sellers can be seen with orderflow such as cummulative delta bars (not available on tradingview...
Market makers gaming levels and playing tricks today. Stop missed by 2.3 pips! Overall bullish structure in tact. Taken first partial profit at 1.4050. Other targets marked in red. Stops moved to 1st entry at 1.4005.
Price currently held down by other market forces (i.e copper / S&P / USD etc ) but look at the bond spread! Only a matter of time before this turns up. Obviously this is only valid as long as the divergence from bond yields is maintained but definitely worth keeping an eye on as value should be higher
View is bullish for USD/CAD. Chart left clean as overlaying valuations make for a messy chart! But bond yield spread, oil and oil products, crack spread etc all indicate that the USD/CAD would be trading at a discount at 1.3850s. Looks like a lot of liquidity supporting the the USD/CAD at the bottom edge of the current range. Ideally I would like to see a stop run...
Copper, oil supply/demand and bond yeilds all rising divergently. AUD/USD would be trading at a discount at 6380s. Hope to see that price for a buy as long as divergence continues .Could rally from current price but best entry would be 6380s
