This is a long trade idea I have, based on the abundance of buyside liquidity in the form of relative equal highs that extend beyond the left of the chart, as well as the trendline resistance building up below it. Whilst it is possible for price to make new lows, my focus is on HOW and WHEN price reacts when it gets to this POI.
Although the DXY seems overextended, many of the XXXUSD pairs have yet to reach their draw on liquidity, furthermore, they have created even more relative equal lows. This further adds to my USDCAD bias. My only concern is that the DXY generally sees more seasonally bearish sentiment during the month of April.
Let's see what pans out.
- R2F
Although the DXY seems overextended, many of the XXXUSD pairs have yet to reach their draw on liquidity, furthermore, they have created even more relative equal lows. This further adds to my USDCAD bias. My only concern is that the DXY generally sees more seasonally bearish sentiment during the month of April.
Let's see what pans out.
- R2F
R2F