WHAT IS A BULL FLAG?
A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. The bull flag chart pattern looks like a downward sloping channel/rectangle denoted by two parallel trendlines against the preceding trend.
During this period of consolidation, volume should dry up through its formation and...
USDCAD is falling like crazy.
here are the strongest key weekly support levels to catch a pullback:
support 1 - 1.33 - 1.335 area based on a major rising trendline and a horizontal structure
support 2 - 1.30 level based on a horizontal structure
Closest key resistance:
1.37 - 1.38 area based on a horizontal structure
also, many questions about the...
Daily Supply & Demand Zones - any divergence shaping up? Just assessing key levels.
Our indicator on the chart is Mayfair's OBV Divergence, Moving fibs and support/resistance from higher timeframes.
Be great to get comments on the coming week's thoughts for this pair.
Have a great weekend!