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Breakandretest

Potential Sell Opportunity on CADJPY CadJpy is beginning to form an interesting sell setup if it's able to break the current Significant Daily Level that it's testing for now. We could see that market structure has been strongly bullish until it reached the Weekly Resistance Level. Once price came to this zone, structure is beginning to switch from bullish to bearish. If price manages to have a bearish break past the Significant Daily Level and come back to retest with significant bearish rejection, I'll be looking for potential sell orders.
Short
by CapitalHillFX
Sell Opportunity on AUDJPY On AudJpy, I'm looking for the same type of deal that we're looking for on AudUsd. Price has retraced back to a Significant Horizontal Level, and now I'm just waiting for proper bearish rejection. This pair may be a little trickier because the Daily Level is not as defined as the other AUD pair. With this being said, it could be possible that price may overextend into or past the Horizontal Level before displaying proper bearish rejection. I'll have to be very disciplined on this one, and make sure that price is CLEARLY rejecting away from the level before placing any sell orders. And just to clarify what clear bearish rejection is in my subjective opinion, a strong bearish candle closure on the H4 chart. Stay patient👌
Short
by CapitalHillFX
Buy Opportunity on USDCADOn UsdCad, a potential buy setup could be forming. On the daily timeframe, it could be identified that buyers seem to be taking over this pair for the time being. I'll be attempting to ride the bullish wave while it's trending. On the smaller timeframes, we could notice that price had a strong bullish rally towards the upside followed by a huge selloff that brought price back where it initially was before the bullish rally. If we could pullback towards the pivot point that includes a Daily Significant Level & a Non-Horizontal Level, I'll be looking for bullish rejection before placing buys on this pair.
Long
by CapitalHillFX
Sell Opportunity on EURJPY Looking at EurJpy, we could identify a sell setup beginning to develop. Starting on the daily timeframe, price has been in a steady bearish retracement for quite some time now. Until the buyers show that they are taking over, I will continue to ride this bearish retracement. On the lower timeframes, we could notice that price has cracked below a Daily Significant Level and failed to push towards the downside. We then snapped back above the level very briefly before cracking back below and testing for the time being. If price could show a strong bearish H4 candle closure off of this level, it would identify selling pressure around this area and downside potential for the future. Just waiting to see how the next couple of candles close before pulling the trigger.
Short
by CapitalHillFX
Buy Opportunity on EURNZD Looking at EurNzd, price has had a strong bullish push past the Significant Resistance Level that price has found difficulty to break in the past. Now that we've taken over this level, it could be used as potential support in the future. We are currently sitting around this Significant Level for the time being. If price could create a strong bullish candle closure past the hourly highs that price has found difficulty to break, I'll look to go long. Just for clarity, I'll want a break past 1.71500, with a candle closure before thinking of any longs.
Long
by CapitalHillFX
Buy Opportunity on CHFJPY The ChfJpy trade that I called out last week would've pushed into profit at market open this week. This strong bullish push could be a predictor for future movements. We've just recently snapped past a Significant Horizontal Level. This Horizontal Level also lines up with a Non-Horizontal Support Level, which adds confluence to the predefined area. Considering price practically retraced back to the level already, I'll be waiting for a bearish candle closure back to the level, proceeded by a strong bullish candle closure confirming the buyer sensitivity at the area.
Long
by CapitalHillFX
Buy Opportunity on CADCHFOn CadChf, we could be seeing a buy opportunity presenting itself. Price is channeling throughout a bearish channel that seems pretty clearly identified. We've had bullish rejection off of the bottom of the channel and cracked through a Significant Daily Level. This could be identifying some sign of strength for the near future. I'll be waiting for a strong bullish H4 candle closure to occur around this level before identifying if this pair has upside potential. If we could have a strong bullish candle closure, I'll most likely go long with my targets extending to the top of the channel.
Long
by CapitalHillFX
Potential Buy Setup on AUDJPYWe have a similar buy setup on AudJpy like the one we did on AudUsd. Price has a long-term bullish sentiment, but is currently retracing back to a Significant Weekly Level before possibly finding support to drive price back towards the upside for a bullish continuation. If we have a break and retest of the current Daily Resistance Level, I'll be waiting for price to show bullish rejection before looking to place any buy orders. Just waiting for the buyers to show themselves.
Long
by CapitalHillFX
Possible Buy Opportunity on AUDUSDOn AudUsd, I believe the long-term bullish momentum could be present around this Significant Weekly Level that we're currently ranging around. Price has failed multiple times to create lower lows and establish more downtrend structure past this Significant Level. I'll be waiting to identify if/when price manages to break and retest the Significant Level that is acting as resistance for the time being. If we're able to break and retest this level, I'll wait for some bullish rejection before placing buy orders.
Long
by CapitalHillFX
CADJPY Sell Setup Onto CadJpy, we could be seeing a classic Head & Shoulders reversal pattern forming. In the past, price was creating clear uptrend structure until the momentum was halted by the Weekly Resistance Level. Ever since then, we've been establishing solid downtrend structure that may look to continue in the future. For now, price is floating around a Daily Resistance Level that looks to be well respected. If we could experience a strong bearish candle closure away from this level, it would signal me to go short. Just waiting for the right time.
Short
by CapitalHillFX