USDCAD - Time to Go Back Up
Updated
Hey Traders!
Okay, a long-term trade for Monday. I'm thinking of going long on USDCAD very soon, reasons are the following:
These are just some points that I am covering right now, there is also beautiful price action and candlestick formation but I will update this post as soon as I enter the trade.
ONLY going to enter if the price can close above the 50%'s ..
Okay, a long-term trade for Monday. I'm thinking of going long on USDCAD very soon, reasons are the following:
- It has an incredibly strong support/resistance level @1.35
- It is being traded in an uptrend channel and
- Right now it is at the 50% of the channel and
- 50% of the Fib. Ret. which I love to use - bit differently
These are just some points that I am covering right now, there is also beautiful price action and candlestick formation but I will update this post as soon as I enter the trade.
ONLY going to enter if the price can close above the 50%'s ..
Note
Price is struggling around the 50% of the Fib and TL Channel; I see some room to go down to 0.382 fib.If I see a little more signal for a bearish trade I will update you but I'm more bullish now on USDCAD.
Note
As expected USDCAD is coming UPNote
@1.351 I enter the buy position; more to follow soon
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