adammilner

USDCAD reversal of trend (LONG)

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
Here we can see a double bottom pattern with wick rejections which is showing that there could be a reversal in trend. The USD is seeming to have dropped since BIden has come into power we have seen a drop in the dollar but i have a strong feeling that we will see a strong upside push.

The double bottom occurred on both the hour 4 and hour 1 charts. Start of the week we should see the decider if it will push up but will be a nice couple of days hold unless very large candles come at the start of the week. Small stop loss, make sure to use the correct risk management if entering this trade and possibly waiting for more upside movement.

Comments

Nice one mate
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out