USDCAD Possible breakout on weekly chart update shakeout on 4hr
As I got my order filled overnight, first thing in the morning I saw that prices had gone up on low volume which is an anomaly, then price had dropped rapidly forming a very wide spread bar with low volume which is another anomaly. And now prices are moving up on high volume wich is as sign of strength. If the high volume movement lasts to the last swing high we probably will have a breakout. If volume dries up at the swing high and we start to see wide spread candles with high volume, it will probably be best to close the trade.
4hr
GBPAUD Buy set up - potentially to the 1.77000This is an add on to my last post. As you can see we have some convergence with the RSI and the market price line. Its also hitting 2 different fib points with a spinning top (I think) candle.
I would be looking to buy here and add more to it as it continues to show bullish breaks to the up side.
If you have any advice or anything too add please fell free. Im still a beginner and have hardly made a proper live account yet.
Cheers
GBPUSD 4H - Bullish SwingGBPUSD 4H - Will be bullish until hitting the first target. Once breakout, it will continue to hit second target. However, it would be bumpy going up. So, be careful with the retracement and set your stop loss appropriately.
Happy trading everyone. Please leave your comment and other ideas.
Potential Cypher AUDUSD 4hrHello Traders,
I hope you have been having a good weekend.
This week, we spotted a potential Bat pattern on the 1hr time frame which has complete.
On the 4hr we also have a potential Cypher Pattern that completes if price can pull down towards 0.7255.
We would be looking for target 1 @ 0.7404 and target 2 @ 0.7496.
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