After making a move down the pair is stuck in a price range (an encircled area) and accumulates power for another move down if a flag (an encircled area) resolves down.
If USDCAD breaks down a corrective structure there will be a nice sell opportunity. However, trade only tested strategies in this setup for there is a chance it could surge up for one more up move when it approaches the trendline.
If USDCAD breaks down a corrective structure there will be a nice sell opportunity. However, trade only tested strategies in this setup for there is a chance it could surge up for one more up move when it approaches the trendline.
Note
Time to move your stops. There is a chance that reversal is coming
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.