USDCAD Sell from this correction
Updated
Hi traders:
USDCAD looks very good for short opportunities. Higher time frame analysis is short in the long run.
We see USDCAD has a strong bearish move since end of May, and a larger continuation correction has formed, giving us extra confluence for a bearish momentum.
Price failed to break higher than the recent double tops, and formed a small correction before the short drop.
We can now expect the price to form continuation correction here and sell to the recent lows.
I will wait for this smaller correction on the lower time frame to complete before enter.
Thank you
USDCAD looks very good for short opportunities. Higher time frame analysis is short in the long run.
We see USDCAD has a strong bearish move since end of May, and a larger continuation correction has formed, giving us extra confluence for a bearish momentum.
Price failed to break higher than the recent double tops, and formed a small correction before the short drop.
We can now expect the price to form continuation correction here and sell to the recent lows.
I will wait for this smaller correction on the lower time frame to complete before enter.
Thank you
Note
Note
Lower time frame
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