Dawn of Lucrative Channel(/trend) USD/CAD
Bases: Fib. confluence with structure, Stoch RSI, Robust Trendline, momentum building, Stoch RSI14,14 2.92 on weekly chart.
There was a channel, which was broken and stopped by a strong leg, but the trend is continuing, and after analyzing this chart, I think that it will form another channel. At the Level 1.06374 there is a lot of structure which is likely to not let the price fall below 1.0614, there also is the trend line and previous channels resistance line (good indicator for take profit orders) which is directing price up if criteria is fulfilled.
IF ( EUR/USD = 1.0634 ) & forms a double or triple bottom making more resistance & if US Nonfarm Payrolls and US Unemployment Rate come out negative.
---> THEN i will go long and place my tp (take profit) order and sl (stop lose) order as can be seen in the screenshoot.
There was a channel, which was broken and stopped by a strong leg, but the trend is continuing, and after analyzing this chart, I think that it will form another channel. At the Level 1.06374 there is a lot of structure which is likely to not let the price fall below 1.0614, there also is the trend line and previous channels resistance line (good indicator for take profit orders) which is directing price up if criteria is fulfilled.
IF ( EUR/USD = 1.0634 ) & forms a double or triple bottom making more resistance & if US Nonfarm Payrolls and US Unemployment Rate come out negative.
---> THEN i will go long and place my tp (take profit) order and sl (stop lose) order as can be seen in the screenshoot.
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