0 drawdown trade from last analysis we will wait for 4 hour bullish candle stick patterns down at 1.30 to get an optimal entry to the upside targeting 1.34 or even higher.
Ucad already broke the trend. If you missed initial move it’s ok wait for pull back or wait for price to break and retest support. This is going to be a long term sell for 3-4 months. Canadian dollar is on steroids this year according to seasonality and nothing is standing in its way. Trade and plan accordingly.
Price is consolidating. Don’t expect some magical breakout to the upside without correction to the downside first. Majority of the market is long on GU so do the opposite. Trendline traders are riding buys while sellers collect orders to flush them out. The inverse head and shoulders also looks too easy. If it’s seems like it’s too good to be true…..then it is....
price failed to make new lower low. multiple bullish englufings on major support with imbalance to the left.