SaifSharif

USDCAD-fakout complete for continuation of bearish momentum?

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
looking on the daily chart this shows the multi touch confirmation of the ascending channel .Now if we implement the bars pattern from the prev impulsive bearish move you can see a similar pattern occuring,where price reversed on the trendline as a pullback,which may manipulate a lot of traders, trapping them on the wrong side as they judge it as a bull run.Hopefully we may be looking at a big move to downside,lets see what happens.

Disclaimer- I am a beginner in trading and i am open to contrasting views.please feel free to let me know if anything can be explained better as this is a way to journal for myself :)

Comments

Great breakdown bro on USDCAD
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