USDCAD - Time to Go Back Up
Hey Traders!
Okay, a long-term trade for Monday. I'm thinking of going long on USDCAD very soon, reasons are the following:
These are just some points that I am covering right now, there is also beautiful price action and candlestick formation but I will update this post as soon as I enter the trade.
ONLY going to enter if the price can close above the 50%'s ..
Okay, a long-term trade for Monday. I'm thinking of going long on USDCAD very soon, reasons are the following:
- It has an incredibly strong support/resistance level @1.35
- It is being traded in an uptrend channel and
- Right now it is at the 50% of the channel and
- 50% of the Fib. Ret. which I love to use - bit differently
These are just some points that I am covering right now, there is also beautiful price action and candlestick formation but I will update this post as soon as I enter the trade.
ONLY going to enter if the price can close above the 50%'s ..
Note
Price is struggling around the 50% of the Fib and TL Channel; I see some room to go down to 0.382 fib.If I see a little more signal for a bearish trade I will update you but I'm more bullish now on USDCAD.
Note
As expected USDCAD is coming UPNote
@1.351 I enter the buy position; more to follow soon
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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.