USDCAD has been on a downtrend on higher timeframes.
Current market structure appears to be finally moving to the upside. 1 Hour has stopped making a new low and has broke structure to the upside. Lower timeframes are in a countertrend moving towards our buy position.
If price breaks below current low, trades cancelled and we wait for next opportunity.
Higher...
If you have been in the market for some time, then you have probably tried a few different indicators. Some may have worked well, others not so much. However, just because the indicator's default version didn't work, that doesn't mean it doesn't have potential!
Parabolic SAR Default
We have tested the Parabolic SAR with its default settings, on ETH/USDT 4h...
Update - today we have seen price to come to trend line and support zone, price has created 1h rejecting candle and gives us opportunity for long trade opportunities to the previous high.
Price is approaching trend line below and support zone. Price action shows what opportunities are available, but the best scenario is to wait price to break one of the zone in order to leave the box and do not get trapped in consolidation.
Price has approached and rejected at trend line above from high time frame. Price action will show whether price will continue to the support zone or if price will break the trend line and resistance zone. Always trade with the trend and wait for price to come to you. Patience pays.
Is at very strong level - I will be waiting for reversal pattern and break of the structure above. If it breaks zone below (around 0,64827) it may continue to the down. So trade with the trend.
Yesterday, I expected price to react at 1,64673 price level. However, momentum was yesterday very strong. At the moment we are at another around 1,65763. TDI is exhausted and market is overbought + another strong area. Let's wait for candles confirmation and price action.
Is at strong support level at the moment. So option one is rejection to the previous zone as it has been consolidating in this wide area for a while or if price breaks the support, we can expect a huge drop. Trade with the trend. :)
After entering to early on my first position on GJ I have
decided to give it one more shot! I use proper
risk management and wins are greater than losses
