USDCAD POTENTIAL LONG FORMATION IN PROGRESS
Updated
We are looking to potentially long this pair due to the following reasons listed below:
1: Higher time frames remain largely bullish
2: Key Level breakout and change in market structure from bearish to bullish
3: Trendline breakout
4: Bullish falling wedge breakout
The consider the frame on multiple time frames before we consider which direction to potentially trade.
1: Higher time frames remain largely bullish
2: Key Level breakout and change in market structure from bearish to bullish
3: Trendline breakout
4: Bullish falling wedge breakout
The consider the frame on multiple time frames before we consider which direction to potentially trade.
Note
Pullback seems to be in the progress of ending on the lower time frames. We will continue to monitor so we can identify a good entry point.Order cancelled
An entry has been established. We have decided to cancel the trade as it does not meet our trading guidelines in terms of risk reward. With that being said, it is still a good trading setupNote
Pair is officially in a consolidation. We will have to wait for a change in trend before looking for any trading opportunities.Note
Pair has confirmed its previous bullish trending market condition. We will be looking for buys only until further notice.Note
We need a strong enough pull back before looking for entries
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