Traders targeted the most recent 4hr lows taking out any existing buying liquidity. Great example of a break and buy type scalp for 2-10 pips. Once the liquidity has been taken there has been a quick and strong snap back. Lovely jubbly!
I keep the highs red and the lows green as subtle reminders where I should be buying or selling.
Potential UCAD Short trade if (and only if) the daily candle closes as a pinbar under the 1.30360 resistance. Price has taken yesterday's daily high, tested and bounced off the daily 200 EMA.
Entry at break of low of the daily candle.
Stop at wick high of the candle.
Take profit at Support 1.28500.
I am currently already short after the 200 touch.
!! These...
USDJPY Daily looks to be heading towards some areas of selling liquidity (high lighted by the cyan dotted lines).
Once the 107.907 has been breached and stops taken, I will look to short for 10-20 pips.
The DXY daily chart has hit a key resistance Level which has been tested multiple times in the past. A great area to look for Shorts or Longs depending on how price action plays out.
I do not trade the DXY, I simply look at this as an indication if there is possible dollar strength or weakness.
Whilst typing this, the Daily is rejecting the 97.20 resistance area...
