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Breakandretest

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
Possible Buy Opportunity on CHFJPYLooking at ChfJpy, we may have a buy opportunity setting up. Starting on the daily timeframe, price has shown us bullish rejection near 3 times off of the Daily Significant Level. The recent rejection was able to create a bullish rally that closed above the recent Non-Horizontal Resistance Level. This could identify a potential buy bias in the near future. When scoping into the H4 timeframe, price has cracked above the recent H4 Significant Level and is currently bouncing at the other Daily Significant Level. I'll be waiting for a retracement back to this pivot point which encompasses the horizontal & non-horizontal levels before looking for bullish rejection.
Long
by CapitalHillFX
Possible Buy Setup on CADCHFOnto CadChf, price has recently presented strong bullish rejection away from the Non-Horizontal Support Level. This could be identifying some potential bullish momentum in the future. We also, have the break of a recent downtrend channel, which is also another bullish bias. For now, I'm just waiting to catch a logical entry rather than chasing the wave. If price could manage to retrace back to the Significant Daily Level (.72750), then I'll be looking for a strong bullish H1 or H4 candle closure before looking for longs on this one. Patience.
Long
by CapitalHillFX