USDCAD has been accumulating for long enough. Time for it to make a move. I want it to see go up just to have a proper retracement. Safe longs for an upward movement since it is heavily supported by a weekly and daily support line.
previous price of interest for longs was 75.6 but was broken through cleanly. 75area is new point of interest, has a daily support line. would be a good idea to long here, depending on the strength of the rejection. 74.2 is the last bastion of defense for an upside movement
AU broke through daily resistance line. My point of interest for longs would be the circled area. I want to see a good bounceback and form a right shoulder.
No concrete direction for me. No trades worth the RR. Recommended move is to watch from the sidelines. Will wait for a better entry for a long on 3470area
Completion of M formation. If we hold this level. This might be a good entry for longs up to the first broken line. If 25$ doesnt get broken cleanly, its the best possible RR for shorts. 2nd scenario is dive around 23$ area. and this would make buyers celebrate. MacD just made a bearish cross.
Monthly wants a retracement. Weekly and daily agrees to go down. Waiting for a close around 23570area and we have a good RR short trade.
If pattern stays true to its course and we only have 29k as top. This may be a good opportunity for an easy short with a very good RR ratio. Profit targets are just slightly above retracement area. 4h showed a rejection to the 29k so i made my entry there. Not an investment advice, but just an analysis.
Preparing for a short on a 1912area if it receives a rejection to the upside. Blue lines are monthly/weekly S/R A lot can happen from here up till EOY.
Price made higher lows, but rsi made lower lows. Shorter hourly frames started to make reversal movements. Good RR here for longs to complete M formation bias.
Temporary short on Silver as it is bound for retracement due to overextension. Area of interest for longs would 24.5 and 24.2area. Daily shows heavy bullish momentum based on RSI, MACD and BB
Completion of W formation and retracement, looking very solid for a safe RR Long Broken lines are monthly and weekly R/S
Gold made a weird move these past few days. By weird i mean it didnt "follow" its market structure. Monthly and weekly pointed a downside movement. But after the retracement, daily finally agreed on the direction of the longer timeframes. Im expecting to see 1854area and even 1811 as bottom again. Good RR shorts imo.
Looking like entry around 1920 would be a good wait for a hold up to 1950-60area Good RR trade for the week
Market structure retesting W formation. Which is most of the time a good area to long. RSI also shows bullish divergence, price made higher low but flat-ish rsi.
Potential ABCD if we close around here today. A Low risk, high reward swing trade next week. Broken lines are my PT area