Candle Cartel

Took a long on USD/CAD this morning based on price moving above the Tuesday bearish daily candle. It's sort of hanging around at my entry right now, we'll see how it goes....

I’m taking a long on EUR and fully aware of the risk involved.

Scaling into the position step by step while the structure remains valid. If structure fails, I’ll accept the loss and move on. Best of luck to me.

15M is leaning bullish, but the 1H still requires confirmation while the 4H direction remains uncertain. I’d rather stay patient and wait for a cleaner, lower-risk entry.

Closed all my longs into those blue pips. The continuation just wasn’t there on EUR/USD, and forcing trades in this kind of price action usually ends badly. No reason to overstay when the market lacks commitment. I’ll reassess tomorrow with a fresh perspective.

For now, stepping away from the charts. Time for some peace and the JJK final showdown: Yuta Okkotsu vs Takako Uro vs Ryu Ishigori. Priorities exist, surprisingly enough.

Closed 1/2 at 1:1 RR. Normally I would also set to breakeven, but I could see this easily returning to my entry. For now, in line with my weekly improvement plan the stop stays where it is. Essentially no risk at this point, but that 1/2% is not really locked in as profit until it goes higher.
Has been an emotional trade as my entry was right in the middle of some chop.....

Closed 2nd half +52 pips

EUR/USD top down week of 5/8/26:
Monthly still ranging in an uptrend.

Weekly also ranging, nearing the top of range. Still looking at the lower low on this chart.... but the weekly candle closed bullish.

Daily price exceeded the last bullish spike mentioned last week and darn near closed above it.

4hr price action looked kind of messy to me all week, but price was telling the story the whole time. The bullish trend was obvious on the 4hr, had I been paying more attention I would have been buying dips all week...

Bias for next week: Cautiously bullish. Will be looking for a strong rejection slightly higher than where we are at, which if plays out in combination with a lower low on the weekly (could take months) would confirm a reversal / downtrend on the weekly time frame. If that happens it will open up a lot of downside and opportunity.
For now I'm bullish though, buying dips.

On Eu, Daily chart still looks constructive to me. Price is compressing inside a rising wedge, and despite the ugly intraday pullbacks, buyers keep defending higher lows. If bulls can maintain this structure and squeeze through nearby resistance, I think 1.1850 is a realistic magnet from a pure chart perspective.

Where is the MOST RECENT liquidity resting with stops for Institutional Players to harvest
ABOVE or BELOW the close on Friday regardless of the Daily direction they end up taking price?

IMO, strong NFP numbers may have encouraged fresh shorts into resistance, which makes me think there could be liquidity resting above Friday’s close.
At the same time, geopolitics is flipping sentiment almost every hour lately. One moment markets react to peace headlines, the next to escalation fears. Feels like the market itself is a bit confused and highly reactive right now.
From a broader chart perspective, I still wouldn’t rule out 1.1850, but in these conditions flexibility probably matters more than marrying one fixed bias. Right now I think reacting to actual price behavior is more important than trying to predict too far ahead.

USD/JPY top down week of 5/8/26:
Weekly: Bullish candle, but notice how there have been two consecutive closes below the 24 SMA.
Daily: Supporting at 100 SMA, room for some upside
4H: 200 SMA or previous support above might be good places to look for shorts.

Bottom line: The bank isn't just going to give up, there will be another significant short move. Some room to move up first, look for confluences of choice. $$$$

EUR/JPY top down week of 5/8/26:
Same as USD/JPY basically, but euro is trading stronger than the dollar making the USD/JPY pair a better option for shorts. Also.... supporting further upside on the EUR/USD pair.

CABLE UPDATE. daily looking weak here.
After the reversal from the 1.36 area, sellers look fully back in control. The recent bounce failed to hold and price is now starting to break structure lower again.
At this point, I’m personally seeing more downside continuation than recovery. Unless cable reclaims the recent highs, every bounce starts looking like a sell opportunity.
Next major support on my chart sits around 1.31550.
Overall sentiment still looks bearish on the daily.

EUR/USD,
The weekly gap has already been filled, but even after touching support, buyers never really showed up into the close. That’s the part making me cautious here. Price reaction looked weak and the market still feels heavy overall.
Personally, I still think 1.15049 can get revisited if sellers stay in control from here. The structure doesn’t look convincingly bullish to me right now, and most of the recent bounces have felt weak rather than true continuation.
Before any bigger selloff though, I do think there’s a decent chance we see some kind of bounce first. The only problem is I honestly don’t know how deep that bounce could go. In this kind of market, short-term moves can get very messy before direction becomes clear again.
On top of that, the current environment is full of uncertainty. Trump headlines, global risk sentiment, random macro news... one statement can shift momentum very quickly. That’s why tomorrow’s live price action will matter more to me than trying to predict everything in advance tonight.
For now, I’m staying cautious because the chart still doesn’t look like buyers are fully back in control yet.

DXY DAILY LOOKS LIKE IT MAY BE FORMING A POSSIBLE w PATTERN. IF CONFIRMED, THIS COULD INDICATE MORE DOLLAR STRENGTH AHEAD, WHICH MAY BEARISH FOR EUR/USD. FOR NOW WATCHING THE NECKLINE REACTION CAREFULLY.

Buying Cable with a 15 pips stoploss , only looking for a retracement move.

exit + 37 pips.