Potential Crab Forming 🦀XAUUSD - Potential Crab Forming, D point landing inside strong demand zone with lots of confluence, makes a very nice PRZ.
We've had a BOS on the 3H, price is bearish on the HTF also.
This move is following the HTF trend.
I do expect a slight push up before this potential down move (Based on the LTF analysis)
Let me know your thoughts!
** Disclaimer ***
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
Supplyandemandzones
USDCAD ANALYSISUSDCAD trading in the downtrend line
price rebounded from 61.8% fib level and key level around 1.2780
price forming AB=CD pattern
RSI in downtrend line below 50
MACD shows the weakness of bullish momentum
so it's expected bearish movement to pattern target at 161.8% fib level and support level around 1.2520
USDCAD ANALYSISUSDCAD broke uptrend line
price rebounded from the supply zone and HVN around 1.2940
price below a key level around 1.2860
price also below SMA 100
MACD show weakness of bullish momentum
so it's expected bearish movement to support level around 1.2720 then to demand zone around 1.2600
METAHERO TEMPTING PRICEThe project has recently launched and has good potential. This post is more like investment advice than a trade idea. Do your own research about this coin and if you like it, now is a good time to buy. Even with the little data we have, the price has confirmed that 0.11-0.12 cents are very tempting for investors.