1. Price is retesting the strong resistance. 2. Price on the correcting move. 3. Price still on the bullish channel and also closed rejecting it on the daily timeframe also as an engulfing. 4. Price respecting market strucutre. If price break the bullish channel, and break the market structure we can easily take short trade. But if price continuing the bullish...
Price already broke the trendline and also make a lower high on 1h timeframe. Also price is still on correction move on the bigger timeframe. So, will price break the low and make another lower high? Who knows. We will see next week for making any action.
AUDUSD we can see that: 1. Daily candle closed below the resistance 2. On 4h timeframe price making a double top 3. We have a broken resistance and now support which is it's a market structure too. 4. We are also in the quarter theory level. So we are still on the bullish move but, if price break the trendline it probably will change the direction to make a deep...
If u look at my idea last day, u already in profit now!! Put stoploss to breakeven!
USDCAD broke the flag pattern and now retesting to the channel, also hold by 38.2 fibs level.
Wait for the break to get a good probability.
You guys can check my idea last week about USDCAD The price break the flag pattern. You can enter when the price retesting the broken flag pattern.
If u see my idea last week on NZDUSD, u can see this pair follow our scenario. And now if price gonna climb higher and follow market structure, wait for the price make a higher low to enter the market.
As we can see on the chart, gbpjpy is still on the bearish channel and now make another lower high. Also we have a confluence: 1. 78.6 level fibonacci 2. Retesting the broken counter trendline 3. If price break the bullish channel on the lower timeframe, it will give us a good confirmation. 4. Also we have a level of quarter theory.
As we can see on the higher time frame it's still on the bearish move, but on the 4h it's looks we are have a bullish channel and friday price close broke the counter trendline. I will look for to wait the price retest the broken CTL also put the fibonacci before take a bullish move to get more confirmation and a good probability.
If you see my idea last week, it is follow our scenario. We just need to wait, will it to the upward to continuing the trend or nah :)
I just gonna wait and see on the broken support, is it gonna break or bounce off.
USDCAD good set up