S&P500 is still on uptrend (D1)SP:SPX index is still on an uptrend on the daily chart. The price bounced back from support level. Ascending parallel channel tested couple of times. Bullish confirmation candle formed today.
Conclusion: The US market is still bullish.
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D1
GBP/JPY retest of a prior lowWe watched this level break recently, and I mentioned I would have preferred to see a pullback before a big move....so here's a pullback. I'm usually hesitant to execute on the D1 because of the huge stops required....but might be looking for H1 entries in the next 12-24 hrs. The reason this isn't an A+ setup is that the level itself hasn't been completely tested yet, space to the upside....if we get that I might get much more excited.
USDCAD getting ready for different big picture scenariosPretty simple, we're wedging at an important level. This is NOT a gimme setup because we're not really trending yet.
Let's watch for buildup at the level and see if we get naked attacks vs buildups....we'll have a better clue as to what's going to happen. Updates to follow!
AUDNZD ShortUsing Chris Moody's Slingshot System to identify aggressive entry points. Prices tend to cross past or into the sling before big trend-following moves. AUDNZD has pulled back from the top of a channel over the past 8 hours. Using Connor's 2-period RSI, AUDNZD is extremely overbought and a big trend-following move is likely.
Recommended SL: 1.06
Recommended TP: 1.051
Early call on a GBP/CAD rise? Possible longer term here bullish opportunity on the Pound/Canadian.
The GBPCAD has recently broken out of a down trending 'channel' on the H4 chart, and coupled with the recent explosive move after the BoE's interest rate comments last month, we might be seeing an inverted head and shoulders pattern potentially forming as well. Looks like a little bounce at the top of the right shoulder is possibly sending price action back towards a re-test that neckline at the moment. I Like the current level for a 'probe' trade with the possibility to scale into it further if the neckline breaks.
BTCUSD D1 Ichimoku Cloud Long-termStrong deviation from the yellow line indicates an overall bullish market.
A pullback to the yellow line is needed one more time (the yellow line acts like a magnet).
-Could go up in the short-term, future clouds indicate continuation of uptrend (still an overall strong bullish market - current state is above the clouds), but it has to make the trip back to that yellow line at least one more time .