UnknownUnicorn5976739
Approached a strong support line. Wait for a reversal via bullish candles.
Double top formation followed by strong bearish momentum. Set a tight stop.
Double bottom reversal pattern
Quick 15min Cup and Handle Short idea. Keep a tight stop as this setup is not perfect. Wait for a re-test or short NOW!
Expecting a breakout and re-test on the trend line. AUD pair showing significant strength this past week (possibly due to relaxing of lockdowns). I expect the AUD pair to continue climbing.
Looking for a re-test and bounce off broken support (new resistance).
EURCAD has reached a VERY Strong support line. Forming a double bottom pattern I anticipate this par to bounce. Wait for a clear rejection via doji or hammer, followed by a bullish engulfing candle for entry.
USDCAD had completed the head and shoulders continuation as previously outlined in my last USCAD post. The pair has trended back up to test a very strong resistance and now is bearishly engulfing the previous candle for a confirmation of rejection. The pair will continue to trend down as per my analysis.
Descending Triangle continuation. Expecting a breakout with a re-test. Enter long after the re-test or enter in the triangle with a tight stop.
Trading within the range... Unsure of future direction towards end of week but outlook per the price action is looking bearish. Incurred a strong uptrend from Covid-19 lows around the 0.8220 area, however is possibly due to blow off some steam as it approaches the strong 0.91432 resistance. Oscillators are indicating it is now overbought and heading for possible...
A Bear Flag is a price action within the context of a downtrend that produces an orderly price increase consisting of a narrow trend range comprised of higher swing/pivot highs and higher swing/pivot lows.
The head and shoulders is a common reversal pattern. The right shoulder indicates a final movement in this pattern and should continue past the neckline.