After USDCAD beat the congestion/resistance zone, it also beat a Daily bear trend line.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and Bull trend line because we have a price over extended, or/also
- On the congestion/resistance zone exceeded.
We can have a setup for the next week.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and Bull trend line because we have a price over extended, or/also
- On the congestion/resistance zone exceeded.
We can have a setup for the next week.
Trade active
As expected, The price retested the congestion/support zone and showed an anti climax and pressure zone setup.
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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.