Here is a scan of 1hr, 30m, and 10m MTF’s on the real time scanner for 2.8.16 at 9:30 am.
A lot of them are consolidating. Nothing that really fit my trading plan. Lets take a look at a few charts. Maybe some of these consolidations can turn into a break out.
These charts are all 30m charts.
AUDCAD is consolidating, the break out does not give a good reward risk to take bullish.
Here is EURCAD bullish above the MTF of the consolidation. looks good for a break out but you do have some resistances on the 4hr to watch out for. No 1:1 reward risk.
EURNZD is holding a bearish pull back on a bullish trend. Would be risky to take this trade. If it holds would could see a consolidation.
Heres GBPAUD, its consolidating around some higher time frame MTF’s. Sitting at the Daily TS.
NZDCAD is also consolidating some higher time frames MTF’s And the higher time frames are not allowing a good reward risk for break outs.
NZDCHF did a quick pull back to the 1.30.10m MTF before I scanned this report. As far as a break out, the 4 hr could be holding it up. if it breaks the 4 hr then it could go to .6485. watching the 30m break out for strength or weakness.
If you have any questions about how to use the multi time email alerts or set up real time scanner, email me at firstname.lastname@example.org. I will set up a 30m help session.
EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose