USDCAD: Three days short traders in the market, inside day

9 Ağu

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“Trade setups, not movements”

1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion)

• Monday DAY 1 Opening Range
  
• Tuesday DAY 2 Initial Balance
  
• Wednesday DAY 3 (reset DAY 1) Mid Point Week
  
• Thursday DAY 2
  
• Friday DAY 3 Closing Range ✅
  

2. SIGNAL DAY

• First Red Day
  
• First Green Day
  
• 3 Days Long Breakout
  
• 3 Days Short Breakout ✅
  
• Inside Day ✅
  

3. WEEKLY TEMPLATE

• Pump&Dump
  
• Dump&Pump ✅
  
• Frontside
  
• Backside
  

4. THESIS:

• Long: primary, three days of short traders in the market, inside day, LOW triggered, all signals that can give us a clue of a potential reversal after the news 8:30am.
  The market looks like squeezing into the LOW and if a setup will present, chances are also very high to reach and stop the HOW for a weekly dump and pump scenario.
  
• Short: secondary, day 3 short can also blow off into the direction of the main trend, but at the moment I'm interested mostly in the long view.
  

Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement.
Gianni