PAIR: USDCAD
TIMEFRAME: 1D / 4H
ANALYSIS TOOLS: SUPPORT, TREND LINE, ASCENDING WEDGE PATTERN
-Looking at the ascending wedge pattern we can see that price has broken the support trend line by significant momentum and speed
-We have got back to the retest region where price is now retesting old support as new resistance
-We can see bearish momentum come in to play just before last weeks market close
-Will be looking for bearish candlestick patterns as confirmation
ESTIMATED PROFIT: 500 PIPS
POSITION: SHORT
MOST LIKELY ENTER ON MARKET OPEN
TIMEFRAME: 1D / 4H
ANALYSIS TOOLS: SUPPORT, TREND LINE, ASCENDING WEDGE PATTERN
-Looking at the ascending wedge pattern we can see that price has broken the support trend line by significant momentum and speed
-We have got back to the retest region where price is now retesting old support as new resistance
-We can see bearish momentum come in to play just before last weeks market close
-Will be looking for bearish candlestick patterns as confirmation
ESTIMATED PROFIT: 500 PIPS
POSITION: SHORT
MOST LIKELY ENTER ON MARKET OPEN
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.