NZD/CAD - 06/10/2020Lower high has been created on the H4. We have multiple confluences to support shorts on this pair which include the multiple wick rejections around the lower high and price attempting to break for a second time to form the double top. I will be waiting for the neckline break and retest for entries on the hourly.
Vifx
USD/JPY - 30/09/2020Thought I would share a little late night trade with you. I spoke about this analysis on the 28th and it has adjusted slightly to account for this new trendline that has formed. Still showing a failure to break above with good bearish momentum. As long as price closes below support I will be entering with a sell limit with the levels provided. Remember to always use appropriate risk management.
CAD/CHF - 29/09/2020Good morning traders, hope you are all having a fantastic week.
Just a quick update, I have taken NZD/CAD off my watchlist and added this new pair.
Price is continuing its bearish momentum creating lower lows and lower highs and we have just come off the back of a double top. However, I am starting to lean more towards a bullish perspective for multiple reasons.
- Price consolidated heavy and failed to break lower before making this double top.
- Price began to form mini bullish structures (higher highs & higher lows).
- Support is currently holding on a valid retest zone for a potential reversal.
As long as we hold this retest zone I will be looking for buys on the hourly timeframe.
NZD/USD - 21/09/2020Price is starting to stall from the high of the previous impulse. There are a lot of structural levels we can use to determine if this reversal will happen. As long as we continue to break support and set new lows on the hourly and break this H4 trendline I will be looking for sells.
EUR/JPY - 17/09/2020H4 timeframe is showing clear directional bias to the downside with the major break of support. I will be waiting for price to pull back to this support level and monitor how price reacts around it. As long as we see price start to deplete and fail to break above I will be moving to the H1 timeframe to look for entries.