Gold Daily TF
Price has rejected daily resistance at 1775 with a strong wick rejections.
I will not be jump into any positions straight away given that we have just had NFP. With that said, moving into next week, if price can break 1750, I will look for a re-test then shorts down to 1725 where the last LH was made at 1725. I will take the majority of the...
USDCAD INTRA-DAY SHORT
Upon price breaking the previous LL ( highlighted yellow) and support area I took a short position on the ' double tap retest. After seeing the 1H bearish engulfing candle at 8am I entered this trade. Targeting the 1.2500 area which is also the last HL on the daily TF.
Price hit TP following the negative USD News for NFP .
2.28% gained.
USDCAD- I am going to await the outcome of NFP on 8/10/21.
Bullish structure overall as you can see from the daily TF. Despite the trendline being broken the trend has not been broken. The last HH @ 1.28280 has not been breached meaning the last HL is just above the Monthly Support level at 1.25578. (highlighted in yellow).
I will wait to see how price reacts...
