Top Down approach: Identified the weekly key levels @ 1.32289 resistance and @1.27508 support Identified the daily key level @ 1.29326 Idenfitied current trend structure, today's 1D&4H shows rejection of the weekly support as planned Since price has broke out the downward channel and starting showing bullish strength Were heading toward a 38 fib retracement...
* Won't be entering this trade due to R&R - SL would need to be 60 pips which is too high * Top Down Approach: Identified the weekly resistance area which is @ 1.83844 - Blue Identified daily key level l @ 1.80806 - Price has respected this are many times in the past The market is showing strong bearish movement after respecting the daily level Weekly shows 4...
Top Down Approach: Identified the weekly resistance area which is @ 1.00264 - Blue Identified daily key level l @ 1.99914 Identified the 4 hour and daily uptrend break and minor retest For this pair to be a valid trade, we want to see a few things 1) A retest or clear exhaustion of the breakout (somewhat seen) 2) a break of the weekly resisatance zone 3)...
Top Down approach: Identified the weekly key levels @ 1.32289 resistance and @1.27508 support Identified the daily key level @ 1.29326 Idenfitied current up-trend structure, today's 1D&4H shows rejection of the upside weekly zone Trade entered Wednesday 2:PM @ 1.29250 (Reason: Daily wick showed hard upwards rejection) 0.02 - SL: 1.29646 - Above 4 hour key...
Top Down Approach: Identified the weekly target which is the top resistance level @ 1.36495 - Blue Identified the weekly strong uptrend = 4 touches Identifiedweekly key level @ 1.33245 key level 1.33245 is keeping price below, not allowing the swing to upside of the uptrend challen Daily confirms the above - only long this pair when daily candle closes above...
potential for either a buy after a test on ascending support or a breakout and re-test before selling down towards daily support area
potential breakout to come on gold, 4/daily charts look good, have to keep an eye on it.
Looking to follow the downward trend on GBP/CAD, a slight pull back at 1.73798 but continues to fall nicely. A major s/r area coming up around 1.73300 so it will be interesting to see how it reacts to that, but I believe it'll break through and carry on with the downward trend. TP currently set at 1.73308 ( 50 pips ) , with a SL at 1.73973, looking to move that...
Looking for a possible buy taking place around the 0.75605 area, once it's broken a tricky area
After a recent drop from our resistance 152.898 level, I'm hoping for a fall down to 151.236, although we might see some indecisiveness around the 152.099 area depending on how it forms. Friday will give us some better clarity.