The EUR/USD pair has been in consolidation since the end of October. Il keeps hitting the 1.4600 and the 1.2900 zones. I am setting alerts as if the price gets to break the highest bull fractal or lowest bear fractal of the consolidation zone, I will probably be waiting for a pullback and proper price action to get in if there is a new trend forming.
I have been watching the GBP/CAD par for a while now. It has been in consolidation since the month of august 2018. It has been constantly rebounding between the 1.7250 and 1.6600 level. I have set alarms and I keep checking it every time it gets close to those limits again. Ichi is no good in those situations. Right now, I am watching for a break of the highest bull fractal, which is at 1.72835. If I get a candle to close above this line, I will check really closely price action to see if a trend could be starting.
These are the possible trades that I will be looking for this week.
USD/JPY is in an uptrend on the weekly chart, and also on the daily, but seem to be doing a pullback in the cloud from the top. Looks like price action found resistance at the Senkou B. Will be looking for a Kijun break from below and will open long a little bit higher than the last bull fractal at 114.00.
USD/CAD is in an uptrend on both the weekly and the daily chart. We are making higher highs and higher lows on this one. I missed a tweezed bottom on the Kijun on the 4th of December. Price has broken last june resistance, but now it is coming back down. I like that pullback because I found that the price was a little far from the Kijun. I will wait to see if we break another bull fractal at 1.3453 before going long on this one.
USD/SEK is still bullish on the weekly chart. Price has found support last week on the Senkou B and now has moved up to the Kijun, and has made a hanged man there. I dont know if it is hitting support on the Kijun level. I am closely monitoring this trade as I have a position open. See:
https://simonzedfx.com/2018/12/02/orders-on-usd-sek-december-2nd-2018
GBP/USD is bearish on both weekly and daily. Chikou has just gone through price action on the daily. Senkou B is flat since October, which shows consolidation of the price. There is a strong support at 1.2705. Would enter short if the last bearish fractal would be broken at 1.2641.
So these are the trades I am monitoring this week. Let’s hope we can get a few pips out of those.
I am looking at USD/SEK right now and what I see is that the it has entered a consolidation period after a nice uptrend. We can see a pennant pattern appearing which might mean a continuation in the trend. All the weekly Ichi indicators shows that the USD/SEK is still bullish. I am placing two price alerts in zones above and bellow the Kumo. Although I would not take a bearish trade on the daily when the price in the weekly is still above the Kumo, I still want to check it in case this would become a reversal and I could get in as soon as I can in order to catch what I can.
The price is moving up to a resistance that has not been touched since November 2016. So I am guessing that there will more a reversal that a rally upward. So I will be looking at reversal candle patterns at the zone of 9.1463. If this zone gets broken, I will open a long position to get the most of the uptrend.
UPDATE: 2018/12/05
The price action has broken on the lower part of the triangle. I am watching to see if the price will move down to the 8.9162 level. If it does, I would enter short at the lowest bearish fractal at level 8.8733. The weekly chart still show a bullish trend, but there could be a reversal as the cloud is becoming really thick and the price is just over a twist. If the price move to that level, chicou should be in the clear to move even more down.
