USDCAD - Patience needed. Potential setup in the making
The USDCAD is back on the watchlist after this week's drop. It shows some over-extendedness with a Bollinger Band spike. Keep in mind that the first trend wave is usually not the one that leads to a reversal trade. Wave 2 and 3 are much more likely to give a divergence.
The USDCAD is a waiting game now. A push below 1.366 would trigger a few orders which then leads to the second wave. It's one of the potential scenarios we are watching.
The USDCAD is a waiting game now. A push below 1.366 would trigger a few orders which then leads to the second wave. It's one of the potential scenarios we are watching.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.