USDCAD Finishing Bearish Push
MONTHLY: Bullish cross of EMA's. We're also right on the peak of descending trendline.
WEEKLY: We have a 3rd tap of our ascending trendline, which formed a bullish engulfing.
DAILY: Clear rejection of our 1.30000 monthly key level. Also, cross of EMA's bullish.
*notice we are now bullish on all time-frames so far*
H4: Overall uptrend. However, we are on a retracement here on the H4. So we can definitely take advantage of this bearish momentum up until structure tells us otherwise.
M30: This is where we will take advantage of our current structure, since this is where it is most clear.
M15: After our initial bearish push we had a 38.2 retracement in which we rejected and are
In order to enter, we are currently waiting on our bullish retracement for a 3rd tap of our descending trendline. Identify our transition area. We are then on the way to our 1st TP around the 1.30439 area. Our 2nd TP will be around our monthly key level.
**USE YOUR OWN JUDGEMENT**
WEEKLY: We have a 3rd tap of our ascending trendline, which formed a bullish engulfing.
DAILY: Clear rejection of our 1.30000 monthly key level. Also, cross of EMA's bullish.
*notice we are now bullish on all time-frames so far*
H4: Overall uptrend. However, we are on a retracement here on the H4. So we can definitely take advantage of this bearish momentum up until structure tells us otherwise.
M30: This is where we will take advantage of our current structure, since this is where it is most clear.
M15: After our initial bearish push we had a 38.2 retracement in which we rejected and are
In order to enter, we are currently waiting on our bullish retracement for a 3rd tap of our descending trendline. Identify our transition area. We are then on the way to our 1st TP around the 1.30439 area. Our 2nd TP will be around our monthly key level.
**USE YOUR OWN JUDGEMENT**
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