USD/CAD WEEKLY TREND BREAKOUT
Price Action (Technical Analysis): It is not rare nor surprising to see price repeat itself, Weekly time frame I have anticipated this breakout as we saw price previously breakout and distribute itself all the way to our Weekly support. I'm expecting Sellers to dominate as we are ready for a short opportunity, we do not see price breaking higher highs and higher lows weekly, in lower time frames we are gaining more reason to go short. A big push down (Impulse) would give us more confidence to enter this Distribution Phase.
Fundamental Analysis: We do not have any Major News today that would put our idea into a 50/50 idea.. however we do have very important news happening tomorrow with the Greenbacks. Following ahead of Tuesday we have G20 News starting up & USD-CHN Trade War can easily affect all price action ideas. Stay updated with News and anticipate big moves happening.
I''m not one to push this as much as this is just an Idea for Traders to see opportunity in but use very good risk management and be patient as the market does not just move Up, Down, Sideways.. as Traders we should expect fake outs. This is why having a Price Action Strategy with a set of rules can build confidence and a Highly Improved Trader. Best of luck to everyone this week...
Fundamental Analysis: We do not have any Major News today that would put our idea into a 50/50 idea.. however we do have very important news happening tomorrow with the Greenbacks. Following ahead of Tuesday we have G20 News starting up & USD-CHN Trade War can easily affect all price action ideas. Stay updated with News and anticipate big moves happening.
I''m not one to push this as much as this is just an Idea for Traders to see opportunity in but use very good risk management and be patient as the market does not just move Up, Down, Sideways.. as Traders we should expect fake outs. This is why having a Price Action Strategy with a set of rules can build confidence and a Highly Improved Trader. Best of luck to everyone this week...
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