H4 Timeframe
Price is currently holding below an established level of resistance. Price respected the double bottom pattern well and is continuing to set new highs. If we see a break above resistance then we could see a continuation up to the immediate high. Keep in mind price could reject of this resistance and pullback before we see that continuation bullish.
M15 Timeframe
Price is currently holding the current high, the momentum of the session is good and if we break above I will be looking to enter a long position. The range is a little tight but we should be able to achieve this.
Plan of Action
I will be waiting for price to break above this high on the M15 and monitoring the H4 to watch for momentum starting to push the market from the HTF this is they key of this trade.
USDCAD
Price is currently holding below an established level of resistance. Price respected the double bottom pattern well and is continuing to set new highs. If we see a break above resistance then we could see a continuation up to the immediate high. Keep in mind price could reject of this resistance and pullback before we see that continuation bullish.
M15 Timeframe
Price is currently holding the current high, the momentum of the session is good and if we break above I will be looking to enter a long position. The range is a little tight but we should be able to achieve this.
Plan of Action
I will be waiting for price to break above this high on the M15 and monitoring the H4 to watch for momentum starting to push the market from the HTF this is they key of this trade.
USDCAD