USDCAD Follow Up and Updates
We said we are looking for pullbacks and then sell, in the previous post.
However the market pushed lower towards the target zone and didn't provide us with such opportunity and it is now time to start looking for buys.
D1 - Price reached the zone exactly where we expected it to reach.
Also we have:
* magnet zone
* triple cycle
* very strong horizontal support
* ongoing bullish divergence
H4 - bullish divergence is also present but there are no false breaks yet. We want to see false breaks to confirm the current bearish momentum is running out of steam,
BUT be patient, follow the price action, wait for confirmations and signals from the strategy that you are using.
Don't just jump into a trade because it looks "sexy" and tempting.
However the market pushed lower towards the target zone and didn't provide us with such opportunity and it is now time to start looking for buys.
D1 - Price reached the zone exactly where we expected it to reach.
Also we have:
* magnet zone
* triple cycle
* very strong horizontal support
* ongoing bullish divergence
H4 - bullish divergence is also present but there are no false breaks yet. We want to see false breaks to confirm the current bearish momentum is running out of steam,
BUT be patient, follow the price action, wait for confirmations and signals from the strategy that you are using.
Don't just jump into a trade because it looks "sexy" and tempting.
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.