I would be waiting for the breakout and retest and enter a trade accordingly. I would like to see a daily closure above 1505.7 or below 1480.3 to be sure it is not a fakeout.
USDCAD has broken and retested the support/resistance area. It has also happened to break and retest the support of the pairs trend channel. My SL will be at the top of the SR area and my TP will be at 1.2973 which is the next support level and recent trend line support of the pair. RR of this trade will be 1:3.5.
I will be longing AUDJPY. The pair is in a short term uptrend and has broken and retested a key resistance turned support level. My TP will be at 76.0 which is the channel top that lines up with the next resistance level. My SL will be just below the broken SR zone. I believe that the pair will come up to test the top of the channel before possibly continuing its...
I will be looking to place a sell limit when price retraces to the 0.618 Fibonacci retracement level which is also a well tested resistance level. My SL will be at the higher resistance zone and TP will be at 0.97185. This trades RR will be 1:2.8.
I will be longing EURUSD after the pullback to the support level which coincides with the 0.5 Fibonacci retracement level. I expect price to bounce off the support of the upward channel and my target will be the next resistance level which is also the resistance of the major downward channel. TP will also align with the 0.618 Fibonacci extension level. My SL will...
