Impulse wave in a up trend
With the USD CAD, my long position started at 1.29.
Although this idea is being posted a little after, there is still a potential window of further opportunity.
Keeping it simple, on a weekly chart, with Heikin Ashi candles to smooth out the PA.
Indicators MACD, OBV are indicating a bullish trend. Also, you will see my Linear Regression support, which has clearly held strong.
In order to determine entry and exits, the 4 hour chart is my recommendation.
Again we see, on the 4 hour chart, a upwards MACD and OBV. PA also looks good as we brook the 200 sma, and are breaking the 200LR resistance.
2-1 risk to reward is good, 3-1 is professional.
Although this idea is being posted a little after, there is still a potential window of further opportunity.
Keeping it simple, on a weekly chart, with Heikin Ashi candles to smooth out the PA.
Indicators MACD, OBV are indicating a bullish trend. Also, you will see my Linear Regression support, which has clearly held strong.
In order to determine entry and exits, the 4 hour chart is my recommendation.
Again we see, on the 4 hour chart, a upwards MACD and OBV. PA also looks good as we brook the 200 sma, and are breaking the 200LR resistance.
2-1 risk to reward is good, 3-1 is professional.
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