The pair here is building the classic Elliot wave pattern. The uptrend is over, now the wave is in the 7th stage. When the wave starts making lower lows in the smaller timeframe then a short position can be made with a very good target.
Even the downtrend channel may break but there is still the demand zone below the channel. So better to wait for the price to break the demand zone then a very healthy and risk free position can be seen.
I have recently started trading in price zones and I have seen it very effective but one should keep in mind about the trendlines and the price channels too or else the price action may change. So here's a short for me in EURCAD, the time period is weekly but as the candle closed below the zone for me its a short position with the stoploss at the high of the zone...
I think this pair is to short, I am not that much confident with this pair shorting but a position can be made as it is in the downtrend, so i will be making a position with a stoploss at the day's high.
The price tried to crossed the ongoing down trend but the price can be seen rejecting to cross the down trending channel but there's still a chance of buyers entering into the trade to move the price up, so wait for a price action and if the price closes down the bar then make a short position. Any ideas and suggestion are welcome.
The trend in this pair is bearish and the the resistance is holding the price to go up. So it is a very good short for me. In bigger time frames also there is a short for me in this pair. Any suggestions and ideas are welcome.
There's a very old and strong support level which seems to be respecting. As the weekly and daily trend is downtrend, I would suggest not to expect a very high target. But surely its a long for me. Any ideas and suggestions are welcome.
A Weekly resistance has been reached and the the Weekly Downtrend channel is meeting also in the point, so a very strong sell position been made in here. As per my analysis it is a sell for me, any suggestion on this is welcome.