We could see a spike above the relative equal highs into the order block before continued downside on this pair.
This would make sense if we looked at this analysis from a money distribution perspective.
Double 1D Bull divs
Huge SFP at the low and liquidity taken of eager buyers at the equal lows
Set limit buy oders at m5 price inefficiencies
Look to add on a HL, if SR rejects price, or on a flip of SR if successful through it
Equal highs, range highs would be target
". There is a possibility of temporary retracement to the suggested support line (1.2080).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic...
I have seen many things in my time but this bearish trend is beyond ridiculous, at some point price will need to spike up to fill some of the missing gaps in the trend.
I would expect a continued bearish lure to start the week before we push up impulsively to my levels marked.
I would assume the majority of the market would have been rushing to sell USDCAD after it showed a bearish start at open, not to mention the so-called head and shoulders pattern break. I think the price has come up to wipe out the impulsive sellers ready for the true move to the downside, lets see how things go. We must bear in mind that today is a UK bank holiday...
I am bullish on USD Fundamentally as they are recovering well from the pandemic
I am bearish on CAD towards the American dollar as America has a stronger currency
I see a consolidation zone in USDCAD from 2015 and we arrived at the bottom of it this month, my entry was a candlestick pattern that consists of 3 candle sticks
1st candlestick must be a...
We had a huge run on stops yesterday using the market exucse of the Johnson & Johnson issue. This has now set the tone for the rest of the trading week. USDCAD should collapse after retracing slightly to collect orders.
We caught this trade together in the telegram group last week, price will collapse from this point all the way to the target zone, wait for a significant pullback before you get involved in the new trend.