USDCAD Week of OCT 7th
Bullish retrace this past week. We still have about another 30-60 pips to the upside here for our overall retrace. This puts us right at our confluence area consisting of:
Monthly Key Level 1.30000
61.8%
H4 Descending Trendline
Daily: We're at an 88.6 retrace for the overall bullish move. We rejected off of that area making it our new LL and now we're creating our LH.
H4: We have a clear bearish BOS. Bullish retrace is approaching our sell zone between monthly key level 1.30000 and our 61.8% level at 1.2980
Once that zone is achieved we will be on the lower timeframes (whichever structure is most clear), we will begin identifying our transition area and looking for our entry.
TP area will be our weekly level of 1.27500.
Monthly Key Level 1.30000
61.8%
H4 Descending Trendline
Daily: We're at an 88.6 retrace for the overall bullish move. We rejected off of that area making it our new LL and now we're creating our LH.
H4: We have a clear bearish BOS. Bullish retrace is approaching our sell zone between monthly key level 1.30000 and our 61.8% level at 1.2980
Once that zone is achieved we will be on the lower timeframes (whichever structure is most clear), we will begin identifying our transition area and looking for our entry.
TP area will be our weekly level of 1.27500.
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