CADUSD | When and where to enter long and short
Updated
#CADUSD #Futures #6CM2021 #1HR
- Here is CADUSD futures 1hr chart. Currently, yellow upward trendline is supporting and a short-term bottom has been formed at 0.82370. I am more bearish when this bottom fails supporting.
- When that happens before 5/20 19:00, I am looking at 0.82200~0.82280 as a short-term support. If you wish to enter long here, make sure to take profit under the previous bottom at 0.82370 since it will then act as a resistance due to SR Flip.
- On the other hand, if CADUSD rallies upward to test the top of the white channel before 5/20 18:00, 0.82760~0.82840 seems to be a decent resistance. If white channel gets broken above, 0.82990~0.83070 is next resistance I am considering.
- If the market gets bearish and goes through some more correction, here are some of the supports for long entry: 0.81530~0.81630, 0.81110~0.81210, and 0.80540~0.80670.
- All of the periodic references are in Korean standard time (UTC+09:00).
- Here is CADUSD futures 1hr chart. Currently, yellow upward trendline is supporting and a short-term bottom has been formed at 0.82370. I am more bearish when this bottom fails supporting.
- When that happens before 5/20 19:00, I am looking at 0.82200~0.82280 as a short-term support. If you wish to enter long here, make sure to take profit under the previous bottom at 0.82370 since it will then act as a resistance due to SR Flip.
- On the other hand, if CADUSD rallies upward to test the top of the white channel before 5/20 18:00, 0.82760~0.82840 seems to be a decent resistance. If white channel gets broken above, 0.82990~0.83070 is next resistance I am considering.
- If the market gets bearish and goes through some more correction, here are some of the supports for long entry: 0.81530~0.81630, 0.81110~0.81210, and 0.80540~0.80670.
- All of the periodic references are in Korean standard time (UTC+09:00).
Note
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