EurCad Bearish Bias Multi Scenario (check weekly)Two scenarios first is explained on the chat,
the second short scenario would be a clear break of that consolidation zone and trend line
bias this week is bearish because of the weekly doji and weakening euro since the start of 2019
risk reward ratio is nice, 14ema is below 50ema on 1h tf confluence with the short bias
why i expect it to go up first is because the daily doji is bullish but bull signals in bear trend "unless its engulfing" tend to not work so great
IF it does break that support there it will fill the space below and can turn into a larger trade than it already is
buuuut i could be completely wrong so trade what u see not what u think just good to have an idea in mind
~ happy trading
Zonetozone
AudUsd Double Top neckline retest/TL Break ZONE TO ZONE BABYNice double top here, NY choppy wick time, then shows sweet doji on 15m tf signaling the drop after the retest of neckline/last kiss on the double top
while the overall trend is bearish
pretty awesome RR for scalper to next zone, small pips to W or L but consistency is what matters most
another great confluence is the 15ema 200ema cross we see right as the entry doji we get right as NY markets are firing up
of course you could have held to double+ profits but you never really know what will happen.. hindsight 2020
side note thoughts/talking to myself:
i seemingly like to short and watch it fall rather going long as i tend to find myself shorting at least 65% of times, not sure why
EurCad Double Top happy weekend friday tradelittle bit harder to see here, this is good example of using line chart to make market structure more clear
turn line chart on and clear double top happens, trade entered after hanging man signal during NY/London close push
great reaction in recent past from this supply zone, strong pushes away and comes back to fill more orders at end of week
overall trend is short from powerful move some days before
GBPUSD - Some to watch for potential swing to the upside Price has been pushing higher this past week.
Similar to the GBPAUD chart there is an obvious Daily zone, this is too wide a risk for my liking.
Down on the 1hr chart I have found a demand zone that is just above the Daily price, which when looked on the 1hr chart is very sideways.
Will wait and see what price does
GBPJPY - Daily Zones To watch Having a look through the timeframes the only areas that are standing out are currently on the Daily TF
Price has been pushing higher, given the previous price action, as marked out in the rectangle box there is a fresh zone at the 152.00 level
will wait for further confirmation on current direction
GBPAUD - Longer Term Swing I have Identified a strong demand zone that if plays out could be a great entry for a longer term swing to the upside.
Rally Base Rally has occurred, price has come back to re test a higher zone a couple of times which for me means there is a higher probability now that price won't respect this level.
Demand zone I'm looking at is between the 1.8520 and 1.84900 level.
On the Daily Chart there is a more obvious Supply Zone formed which current price is closer too.
AUDCAD possible reversal to the upside
AUDCAD is in a Weekly downtrend and after
a push down it started making higher lows,
which tells us that price is now ranging and
is trading between its previous swing levels,
we can see that price looks to make a head&shoulders pattern
On the Daily we see a possible double bottom
being formed and on the second half we can
see that price starts to stall and stops making
lower lows and starts ranging. Price is at about
the 50% level of the huge pinbar which is also
a nice level for price to push higher
I'll be watching this pair for nice long setups for the coming weeks
NZDCAD - Zones to watch this week Price hasn't really touched the bottom zone, it has be pushed up before its gotten there which leads me to believe that this could offer a buying opportunity.
There is a fresh 4hr zone to aim for which as you can see price has been moving sideways for some weeks.
there is a truly fresh demand zone lower.