USDCAD My Short Trade Planning
After created a huge Double Top at late 03/2020, USDCAD had since then been very obedient to this price pattern, went for a deep fall and eventually claimed its Low at 1.2000 area 15 months later.
Rebounded, and has now reached a High-Interest Area, of which in my opinion, with strong resistance it is the Supply Zone. Technically, the Critical Level to watch is the 1.2600.
Entertaining a Short with bearish signal at this Supply Zone is definitely not a bad idea, and scale in after a confirmed breakdown of FL1.2520 area.
Pay close attention to the Blue areas.
JMO.
Disclaimer: “Trade at your Own Risk”.
Rebounded, and has now reached a High-Interest Area, of which in my opinion, with strong resistance it is the Supply Zone. Technically, the Critical Level to watch is the 1.2600.
Entertaining a Short with bearish signal at this Supply Zone is definitely not a bad idea, and scale in after a confirmed breakdown of FL1.2520 area.
Pay close attention to the Blue areas.
JMO.
Disclaimer: “Trade at your Own Risk”.
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.
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.