USDCAD - SELL
Hey guys,
Been a while!
Here's a nice little set up on the 1Hour time frame for a intraday sell opportunity..
As we can see price is trending down, due to Oil being bid and coronavirus fears in the US.
All markets seem to be crashing!
In my technical analysis, i can see that price has broken the 100MA twice now, giving me a clue that it wants to break to the down side..
On its second break, price has retraced to my 38.2 retracement, 100MA and resistance (red line). Additionally, on the rise up, volume is very low, indicating that the market is weak and not ready for a move up?
I'm hoping price will bounce of this 100MA and reach my 200MA bar..
What do you guys think?
-L
Been a while!
Here's a nice little set up on the 1Hour time frame for a intraday sell opportunity..
As we can see price is trending down, due to Oil being bid and coronavirus fears in the US.
All markets seem to be crashing!
In my technical analysis, i can see that price has broken the 100MA twice now, giving me a clue that it wants to break to the down side..
On its second break, price has retraced to my 38.2 retracement, 100MA and resistance (red line). Additionally, on the rise up, volume is very low, indicating that the market is weak and not ready for a move up?
I'm hoping price will bounce of this 100MA and reach my 200MA bar..
What do you guys think?
-L
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