USDCAD is due for a turnover || initial entry, waiting for conf
Overextension to the downside. Price reaching the last point of aggressive upward thrust and is likely to reverse at that point.
Blue trendline being manipulated, taking liquidity from stop-losses.
RSI has formed a range and the value is now at the bottom of its range, ready for a bounce.
Here this entry with a stop-loss at the last lower low would make this a tight stop with a RR of 16.8 if it is to fill the last imbalance.
From a fundamental aspect:
The US is doing better than other countries as they are the fastest country to distribute vaccines to its population.
Over here in Canada, Ontario and Quebec are still in lockdown and we are experiencing the worst wave yet!
Blue trendline being manipulated, taking liquidity from stop-losses.
RSI has formed a range and the value is now at the bottom of its range, ready for a bounce.
Here this entry with a stop-loss at the last lower low would make this a tight stop with a RR of 16.8 if it is to fill the last imbalance.
From a fundamental aspect:
The US is doing better than other countries as they are the fastest country to distribute vaccines to its population.
Over here in Canada, Ontario and Quebec are still in lockdown and we are experiencing the worst wave yet!
Comment:
Here is a view of a weekly trendline where it is likely to reverse from as it hasn't been tested multiple times... so it shouldn't get manipulated out
