This pair is at an interesting juncture.,a fellow trader (linked idea) asked me to check if there was case for "long" entry here. There may be case for long, but instead I fond a potential "short" setup. Do you see any more setups in this or larger Timeframes ?
Look for channel breakouts, keeping TP level same as channel height. This is an example on USDCAD
Potential Butterfly Forming. Awesome Oscillator indicating bullish momentum, There a possibility of this pattern completion. Another one added on the list to wait n watch.
The Larger Picture where a quick downfall for the index look a probability to me. What should I look for to confirm it? How high do you think it may go before the fall?
The Momentum Divergence is already in play, will have to wait n see which side wins the "battle" this week. The picture of "War" in another chart to follow.
This butterfly might take the german index to new highs, bt the momentum divergence at Monthly charts , may prevent it from happening. Wait n watch.
Is there a Divergence building up or am I "making things up?
Next week we "MAY" see gold rising a bit before dropping again. The exact path be clear in due course. I just hope the Price Actions crosses my 'Pit Stops" :) on its way .
UJ seems to be in key zone to and futuremovements would help bring some more clarity as to what is impending in days ahead. RSI breakout soon. ( currently favoring downward movement )
If it spikes n touches the 127 but closes below the trendine. The Green resistance zone may be one of the targets for potential reversal zone!