USDCAD: Key Levels to Watch for Potential Entry
Updated
Mornin' traders! There are a couple of key levels to watch here on USDCAD. The most important of which to me is the 1.284 area. Before taking a long position I want to see price close the weekend gap and touch the unhit daily pivot for Friday. Since a higher low was created from a bullish impulse, I will be looking for bullish price action (pinbars, engulfing candles, signs of rejection) at this level toward the neckline and possibly further if the H&S pattern remains valid. Until then, I'll be by the sidelines watching. Happy Trading!
Note
Price is quickly approaching Gap/Pivot level. I'm looking for some support in that area.Note
Gap closed, looking for one more drop to pivot before bullish continuation
Trade closed: target reached
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