We checked different market conditions to look for the best entries to make good trades. Using price action we are able to analyse the current market movement and how it has been in the past. Do have a splendid trading day.
This is a random analysis. Though I have taken my profits for the day and not aiming to get another. Though it will not be bad sharing some educational content for the day.
We are currently on an uptrend on USDCAD. Knowing the trend is our friend, trading with the flow gives us a better chance of making profit. Except there isna news in the Asian Session which makes us hit stop loss, we are good as price has retested the key level.
Using the signal from donchian and RSI, we are going to have a selling market soon.
We are currently on a Key Sone abd we are looking at a bullish move. Risk Reward is 1:5
Am in the trade currently. We are in a key level, We are looking at price going down to the demand zone.
We can see the formation of a a reverse head and shoulder. Therefore, let us see how price reacts to the previous key level and see a confirmation sell candle before taking a sell position. Note: First sell Set-Up has a risk managemenet of 1:2 while teh second is 1:3. Or you can take your first tp in the first set up and see if price reaches the second tp.
This analysis is for tomorrow. Waiting for price to react with key level and give us a confirmation before taking a sell position.
We are expecting more bullish movement. However, after price moves to the previous day key level, we are expecting a bearish break from the zone before entering a sell position. Note: It is adviced that you risk 2% of your capital. R:R is 1 : 2.5
We are looking towards price testing the lowest low of yesterday before going bullish. We will be taking a 1:11 for our risk reward ratio.
These are multiple sell setups. The Dollars keeps getting stronger and the war keeps getting more.
It is best to use a tight stop loss as this reduces the risk while trading.
If penant is broken downward, then we are looking to see the completion of a Head and Shoulder pattern.
On the monthly timeframe, we are looking towards a sell next month and upper because we currently experiencing a strong rejection.
We are looking towards a break and close of structure of either of the support i=or resistance created by our fibonnaci levels before an entry.
On a long term, we are looking to see a 300% move. However, we are in a resistance zone and we are looking to see either a breakout or reversal from the supply zone.
On the 4H timeframe, we are on a downtrend. We have a double top which supports the sellers. Asides that, a wedge has been formed which supports the fact that we are soonest heading to the 0.5 Fib level. For conservative traders, wait for the break of the lower trendline of the wedge and enter sell trade at the retest of thesame line which will be possibly at the...
We are looking to have price to retest the 0.786 Fib level before moving towards the support (Sell) on monday. If price breaks the 0.786 level, then we have to wait for price to break the upper trendline, then we place a long entry.