I see some divergence on the RSI as price has risen to the top of a channel. TP at the weekly cam s3 pivot. Will use a tight stop on this pair as I've been roasted by it before. Either way, what fun!
Price is at Monthly and Yearly CAM pivots. I'm thinking it will bounce up and continue toward the top rail of this bullish channel. I might set TP's at weekly R3 & R4 CAM pivots (the skinnier lines) along the way.
Not an expert, only a hobbyist, so this one may be a bit risky. The US midterm pushed USDCAD to a (possible) floor, Yearly Cam Pivot R3 AND Monthly Cam Pivot S3. I highlighted the areas of interest on the chart. My TP is at the next CAM Pivot. Seasonality and sentiment analysis agree (at the time of this posting).
Price is bouncing off the lower internal line. Hoping to see it return to the median. Interested to see how price reacts to the Monthly CAM pivots. I may set TP1 at CAM S3, and extend TP2 near the yearly pivot (red line). Worthy to note the oversold RSI. I've labeled the 5 reasons why I think this pair will reverse on chart.
Price is bouncing off the lower internal line. Hoping to see it return to the median. Interested to see how price reacts to the Monthly CAM pivots. I may set TP1 at CAM S3, and extend TP2 near the yearly pivot (red line). Worthy to note the oversold RSI.
