Week 01: ZSF 2021 Still Buyer's Market in the early 2021First day of trading in 2021, ZSF2021 is very bullish in the first 4 hours.
The market structure is clearly visible in H4, it keeps making a Higher High and we noticed the green candle momentum are relatively stronger on each pullback. Therefore we saw a series of uptrend last month.
The current Support level is at $1,320 and currently we have not seen any sellers (yet) in the market.
Will the price keeps going up? if there is no significant seller, yes. How high? we do not know yet.
What we know, the direction will change when the Seller is bringing down the price back to $1,320 area.
For now, no trade call for first week of 2021.
Next week I will start using ZSH2021.
Stay safe.
Buyersmarket
USDCAD - Long PositionUSDCAD could possibly be a long position based on double bottom on 1HR time frame and inverted head and shoulder pattern on 4HR time frame
Take Profit position is at green line above mainly due to a major consolidation area
You could hold your position to continue the buy, however I would advise if you wait for the break of the MAJOR CONSOLIDATION AREA and a retest before entering into the market to take profit at its weekly area (Red line)
Big opportunities on the markets this week
Happy Trading!