This week in the currencies world, we had 2 majors pairs show up on 7 time email alerts. Typically a 7 time email alert is high probability for a trend to begin. But it can also be a high probability to reverse. Lets take a look at this past week high probability email alerts.
Lets take a look at the 4hr. We can see we have a break out. Its in a pull back. If this break out is to stay bearish, it needs to break the tenken-sen and pivot low. If this level holds, look for a possible reversal.
Here we have the cadjpy. We took a look at this last week. It broke out of the cloud and did a pull back to the SKB for a short to the pivot low of the consolidation. But we are in the same place as the audjpy. Needs to break support to stay bearish. If not look for a reversal to retest the top of the consolidation.
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