Pairs on Watch -

NZDCAD : Price is now sat at the highs with a potential M style in play, where we could see this volume in the middle scoop up to the value area and an aggressive sell off back down to the lows. I will be look for a clear turnaround on the 1H minimum before a 15M continuation for the sells. If not, I will sit tight and see how price develops, as other CAD pairs potentially could develop into longs therefore keeping my mind open for both directions.

GBPCAD : The price action on this pair looks very similar to NZDCAD in terms of the M style volume in the middle and impulsive drive up to the highs. However, price has not quite reached the value area just yet and potentially could give us a developed 1H structure for the longs. If this is the case, I will filter to the 15M and look for a risk entry long, manage into the high for a 3:1 and if I have to then flip for the short then I will.