USD CAD - Want to know where is Smart money taking price ?
Smart money took out the equal lows and captured a tonne of liquidity from retail traders on 26/5 which led to
a strong bearish move down, the target ? was to mitigate orders thatchy were in drawdown in from old contracts, after mitigating and filling in the imbalance of price action created on 9/3/2020, Smart money then commenced instigated reversal (as expected), now heading up the open contracts (where they are in drawdown). This has created a bullish environment and no doubt without liquidity grabs along the way.
I expect price to reach 1.38500 - 1.39500 and cause a reaction as they close out their orders.
So traders, as we have established a bullish bias , we are looking for long set ups, proceed with caution as liquids will be grabbed along the way up so you need to time you buy entries. Want to know and talk more about how I came to this analysis ? get intouch always happy to help other traders
a strong bearish move down, the target ? was to mitigate orders thatchy were in drawdown in from old contracts, after mitigating and filling in the imbalance of price action created on 9/3/2020, Smart money then commenced instigated reversal (as expected), now heading up the open contracts (where they are in drawdown). This has created a bullish environment and no doubt without liquidity grabs along the way.
I expect price to reach 1.38500 - 1.39500 and cause a reaction as they close out their orders.
So traders, as we have established a bullish bias , we are looking for long set ups, proceed with caution as liquids will be grabbed along the way up so you need to time you buy entries. Want to know and talk more about how I came to this analysis ? get intouch always happy to help other traders