USDCAD in the past several sessions had a good uptrend then hitting a double top and reversal
Sunday 5/15 after the open. The double top occurred at the of the second upper VWAP band
above the mean and the top of the volume profile. On the descent , it has crossed under the
POC line of the volume profile and is widway between the first positive VWAP bandline and
the mean VWAP. Luxalgo's Echo indicator based on AI algorhythms predicts the trend down
will bounce and reverse off the first lowewVWAP band at 1.337 into a consolidation sideways
pattern for a day or two and then reverse. Accordingly, I will take a short position targeting
1.337 while getting a stop loss at the first upper VWAP ~ 1.35. I expect to close before swap
comes into effect.
Sunday 5/15 after the open. The double top occurred at the of the second upper VWAP band
above the mean and the top of the volume profile. On the descent , it has crossed under the
POC line of the volume profile and is widway between the first positive VWAP bandline and
the mean VWAP. Luxalgo's Echo indicator based on AI algorhythms predicts the trend down
will bounce and reverse off the first lowewVWAP band at 1.337 into a consolidation sideways
pattern for a day or two and then reverse. Accordingly, I will take a short position targeting
1.337 while getting a stop loss at the first upper VWAP ~ 1.35. I expect to close before swap
comes into effect.