EURCAD: Three days cycle

28 may

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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 ✅ Three days cycle
  
• 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: N/A
  
• Short: Possibility to see this market going to stop the previous LOW, long traders are still in profit and most of their SL are mostly below that level.
  

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

28 may

Nota

10am US major red news, no trade setup will be taken before that time

The market at the beginning of the day placed a lower low and pumped up involving three levels of rise. High is place and retested already. If it holds, it will be a good opportunity to short this level, back to the previous HOW.

28 may

Nota

Market broke higher, 10am above ema 5 minute chart, no setup