Looking for price to consolidate and show signs of reversals on the daily candles. If price is showing respect to this previous resistance (which it is already doing a little) I will look for another push to the resistance level to create a double top and then enter.
Price is consolidating at trendline that has produced massive shorting opportunities. Very good risk to reward ratio with this trade, SL set above the trendline.
Weekly time frame shows a nice downtrend correlated with the trendline shown. I see a good possibility of price moving up towards that trendline one more time. Wicks have been consistent on this trendline meaning it will be a very low drawdown trade if sell limits are set the where these wicks are trending. Win to loss ratio can be huge on this potential trade!
As price continues upward during a recovery of a sharp drop, the price will continue in the ascending wedge and will break to the downside at the indicated price on the chart. This trade will be taken if the resistance level is respected on the lower time frame and could be a great long term trade or day trades based on the previous support and resistance levels...
AUDCAD is showing signs of continued respect of this trendline on lower timeframes. Entry is at previous 4H resistance and TP is set at a previous 4H support level for some nice safe gains.
Price is following an ascending trendline which is meeting overall descending triangle on weekly chart. After price drops to 0.28 we will see the end the weekly descending triangle and an overall long position to possibly .8 or 0.9 (not entirely clear on the ending long position). Message with any other conflicting ideas, always open to new ideas on the charts!
