USDCAD ANALYSIS 15 - 19 FEB
Updated
ANALYSIS
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DAILY TF: BIG REJECTION WICK, BEARISH ENGULFING
4HR TF: CONSECUTIVE BEARISH CANDLES
1HR: BREAK OF A RECENT LOW
PLAN OF ACTION
----------------------
- WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR & OR 5MIN TF TO COMPLETE BEFORE TAKING SELLS
- IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND BUY TRADES
- CHECK NY SESSION FOR BREAKOUT OF THE CORRECTION PHASE
ENTRY REASON
--------------------
- BREAK OF CORRECTION CHANNELS
STOP LOSS TO BE DETERMINED AFTER CORRECTION PHASE
TAKE PROFIT @ NEXT ZONE
--------------
DAILY TF: BIG REJECTION WICK, BEARISH ENGULFING
4HR TF: CONSECUTIVE BEARISH CANDLES
1HR: BREAK OF A RECENT LOW
PLAN OF ACTION
----------------------
- WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR & OR 5MIN TF TO COMPLETE BEFORE TAKING SELLS
- IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND BUY TRADES
- CHECK NY SESSION FOR BREAKOUT OF THE CORRECTION PHASE
ENTRY REASON
--------------------
- BREAK OF CORRECTION CHANNELS
STOP LOSS TO BE DETERMINED AFTER CORRECTION PHASE
TAKE PROFIT @ NEXT ZONE
Trade closed: target reached
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