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U.S. Dollar / Canadian Dollar

Third Bounce

By glidersport
Updated
USDCAD

It seems that the USD/CAD is in a channel. If the move bounces off of the resistance for the third time and the Chande momentum is above 60, then it will likely be going to the support and bouncing off from that point (and Chande momentum is below -60). This will also be the third bounce from the support. The idea that the third bounce counts is based on following the trend.
Note
The second indicator was redundant and it's hidden - so ignore the bottom half of the indicator section.
Chart PatternsTechnical IndicatorsTrend Analysis
glidersport

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