USDCAD moment of correction; RSI/BB/STOCH/HAIKEN_ASHI
Instruction:
1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal.
2)The Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone.
3)The Stochastic Oscillator (Stoch) in forex helps identify buying and selling moments based on a comparison of the current price with a price range over a certain period of time.
4)In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way.
Intervals:
H4:
1) RSI above lvl 70
2) Price on Bollinger Band
3) Stoch above 80 and Sell Line (red) is on top of Buy line (green)
4) Red Haiken Ashi candle is building
H1:
1) RSI close to lvl 70 and indicator is poiting down (sell)
2) Price bounced from Bollinger Band
3) Stoch above 80 and Sell Line (red) is on top of Buy line (green)
4) Red Haiken Ashi candle is building
Conclusions:
Based on the analysis of RSI, Bollinger Bands, Stoch and Heiken Ashi candles, it seems that the USDCAD asset may be at a turning point.
Stop Lose:
Above top of Bollinger Band +10/15pips. SL will be set up on break even after 10/15pips profit.
Target: 1.355
1)The Relative Strength Index (RSI) shows that the asset is temporarily overbought/oversold, suggesting a possible trend reversal.
2)The Bollinger Bands indicator shows that the asset is currently in an upper/lower resistance/support zone.
3)The Stochastic Oscillator (Stoch) in forex helps identify buying and selling moments based on a comparison of the current price with a price range over a certain period of time.
4)In addition, I use Heiken Ashi candles, which help to see the trend in a smoother and smoother way.
Intervals:
H4:
1) RSI above lvl 70
2) Price on Bollinger Band
3) Stoch above 80 and Sell Line (red) is on top of Buy line (green)
4) Red Haiken Ashi candle is building
H1:
1) RSI close to lvl 70 and indicator is poiting down (sell)
2) Price bounced from Bollinger Band
3) Stoch above 80 and Sell Line (red) is on top of Buy line (green)
4) Red Haiken Ashi candle is building
Conclusions:
Based on the analysis of RSI, Bollinger Bands, Stoch and Heiken Ashi candles, it seems that the USDCAD asset may be at a turning point.
Stop Lose:
Above top of Bollinger Band +10/15pips. SL will be set up on break even after 10/15pips profit.
Target: 1.355
JOIN:
👉👉👉👉👉 discord.gg/PbPRA8Srvq 👈👈👈👈👈
Go and check our YouTube!
GLOBAL: youtube.com/@manticoreinvestments
POLAND: youtube.com/@manticoreinvestmentspolska
👉👉👉👉👉 discord.gg/PbPRA8Srvq 👈👈👈👈👈
Go and check our YouTube!
GLOBAL: youtube.com/@manticoreinvestments
POLAND: youtube.com/@manticoreinvestmentspolska
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.