Daily Pennant + Crab on HTF GBPUSD - Price is sitting on weekly supplyzone and has created EQL highs, we also have a Daily pennant forming (Trending continuation) If confirmed. (We also have a crab on the HTF with the D point landing on the target of the potential pennant)
Price could go either way, I will scalp this today bullish based on the momentum, LTF PA and the liquidity trap at the highs but for any HTF swings I'd wait to see if this pennant confirms or price rejects.
Let me know your thoughts!
Weeklysupply
EURCAD SELL Swing Trade Idea (LIMIT)EURCAD - SELL Swing
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Price has been in a downtrend for a quite some time. Last week, price has rallied earlier on just to decline heavily. This was because of receiving new sell orders at heavy supply zone above. Price will now return to that zone because not all the orders were filled when price went to that zone. Now it will have its first touch of that zone and we usually say first touch to any zone is the highest profitability trade one can ever have.
Hence why trade idea, we now have.
Sell Limit @ 1.50059
SL: 50 pips
TP: 1.45786
R:R Ratio of 1:8
That's all for now
Take care until now beloved!
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