Hello traders this is a simple price action trade.
The market is clearly in an uptrend so why would I want to sell you may ask. I think the breakout of this zone (Range )is a fakeout
We broke out of the zone with this weak candles which indicates that this is more likely to be a fake breakout than a real breakout
Furthermore we can see this divergence in volume which shows that there are no people buying this USDCAD here.
Something that is also interesting is this double top with a divergence.
The market is clearly in an uptrend so why would I want to sell you may ask. I think the breakout of this zone (Range )is a fakeout
We broke out of the zone with this weak candles which indicates that this is more likely to be a fake breakout than a real breakout
Furthermore we can see this divergence in volume which shows that there are no people buying this USDCAD here.
Something that is also interesting is this double top with a divergence.
- WEAKNESS USING MACD
- DOUBLE TOP WITH DIVERGENCE
- TREND BREAKOUT
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.