USDCAD: Inside day, first green day

23 thg 9

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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, considering the dump of few days ago and the consolidation around the LOW, this market leads me thinking about a potential long setup, as well the first green day can be a good clue about that. However, right now is still inside the previous high low, means that other time frames are not involved yet, as well 9:45am PMI is on schedule!
  
• Short: secondary, the inside day, however, typically can setup for both the scenario, so I can't exclude the HOD failing (in case it will be triggered), for a short scalp back into the LOW.
  

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