USD/CAD | Short-term Downtrend - Go short from the Supply Zone
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Even though its long term trend is uptrend, the price has to come to the previous demand zone before it starts its journey to the upside. There is a Supply area up there. So don't take a buy position. I would wait until the price reaches the Supply zone before taking a sell position.
Thank you for your support, I appreciate it.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Even though its long term trend is uptrend, the price has to come to the previous demand zone before it starts its journey to the upside. There is a Supply area up there. So don't take a buy position. I would wait until the price reaches the Supply zone before taking a sell position.
Thank you for your support, I appreciate it.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Trade closed manually
Got almost 370 pips to the upside and 250 pips to the downside. It's been in an accumulation phase from a while. So I'm closing all my positions and moving on.
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.