USD/CAD - Careful
I've seen quite a few people doing analysis on USD/CAD on the 4 hour charts etc
Just my 2 pence.
Read chart and assess what is happening. Remember, this is a long-term bearish instrument
Also: I am looking into this instrument on the Weekly timeframe, and have spotted a very promising trend reversal.
Could possibly place an options trade on this (Call - going Long, to a take profit of around 1.3 possibly.)
Providing USD/CAD does stay above 1.262, and reverses. (This could take place by next week)
Long-term however, you need to wait for a good opportunity to arise, before you decide to make a position.
I personally, would wait for a decent decline, and a trend reversal, and trade the trend reversal, after a consolidated zone.
However, this is just my trading style.
-Divit-
Just my 2 pence.
Read chart and assess what is happening. Remember, this is a long-term bearish instrument
Also: I am looking into this instrument on the Weekly timeframe, and have spotted a very promising trend reversal.
Could possibly place an options trade on this (Call - going Long, to a take profit of around 1.3 possibly.)
Providing USD/CAD does stay above 1.262, and reverses. (This could take place by next week)
Long-term however, you need to wait for a good opportunity to arise, before you decide to make a position.
I personally, would wait for a decent decline, and a trend reversal, and trade the trend reversal, after a consolidated zone.
However, this is just my trading style.
-Divit-
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.