The Rise of USD/CAD Week of 8/13
Starting out on our
MONTHLY: We're on an overall uptrend. Currently approaching the top of a descending channel, in which we're potentially looking to break.
Why?
WEEKLY: You'll see that last week we had our 3rd tap of our trend line at monthly key level of 1.30000. This 3rd tap that we are seeing also formed a bullish engulfing pattern....loots of buyers currently in the market..
DAILY: We just gapped up this week at market open. This is after breaking a minor resistance point last week. We are also getting a bullish cross with our EMA's.
H4: Break of structure clear as day, we are looking to make our 3rd tap of our trendline here in the 1.30700 zone highlighted in green.
ENTRY: I will wait for price to enter our zone, then snipe an entry clearly from our transition phase.
MONTHLY: We're on an overall uptrend. Currently approaching the top of a descending channel, in which we're potentially looking to break.
Why?
WEEKLY: You'll see that last week we had our 3rd tap of our trend line at monthly key level of 1.30000. This 3rd tap that we are seeing also formed a bullish engulfing pattern....loots of buyers currently in the market..
DAILY: We just gapped up this week at market open. This is after breaking a minor resistance point last week. We are also getting a bullish cross with our EMA's.
H4: Break of structure clear as day, we are looking to make our 3rd tap of our trendline here in the 1.30700 zone highlighted in green.
ENTRY: I will wait for price to enter our zone, then snipe an entry clearly from our transition phase.
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.