USDCAD ____ INCOMING BULLISH MOVE
Hello Traders,
This is a very interesting pair I would like to bring to your attention.
My approach to this is using the M and W patterns to build a narration for this long trade.
Starting off on the monthly timeframe, you will notice that price is making a bullish continuation and we just created a bullish CHOCH. The 50% fib level on my chart was draw on the monthly timeframe and as you would notice, price just traded below it and we can say we are in a discount level.
On the weekly chart, we are currently printing an extended M pattern and I speculate that we would likely get a retracement which would lead to the bullish rally.
Keep this pair on your radar.
Follow for more updates.
Cheers,
Jabari
This is a very interesting pair I would like to bring to your attention.
My approach to this is using the M and W patterns to build a narration for this long trade.
Starting off on the monthly timeframe, you will notice that price is making a bullish continuation and we just created a bullish CHOCH. The 50% fib level on my chart was draw on the monthly timeframe and as you would notice, price just traded below it and we can say we are in a discount level.
On the weekly chart, we are currently printing an extended M pattern and I speculate that we would likely get a retracement which would lead to the bullish rally.
Keep this pair on your radar.
Follow for more updates.
Cheers,
Jabari
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.