USDCAD: Potential rally ahead
Updated
I entered today, but couldn't publish on time.
Entry is on chart, minimum target is the daily downtrend mode.
The weekly chart has no new lows in 6 weeks already, while the weekly downtrend signal isn't falling sharply like I expected. I've been trading USDCAD on both directions succesfully using time at mode, entering during the NY session.
It's possible that this is the start of a 3rd wave of either a C wave or a 3rd wave of a new bullish cycle after a 3 part correction in the weekly.
The weekly and daily trends are up, I'll update with any potential scale in or entry opportunity for other traders that didn't enter with me. We were discussing this one with my friend Nick Coulby this morning, and I took the trade from my phone.
Good luck,
Ivan.
Entry is on chart, minimum target is the daily downtrend mode.
The weekly chart has no new lows in 6 weeks already, while the weekly downtrend signal isn't falling sharply like I expected. I've been trading USDCAD on both directions succesfully using time at mode, entering during the NY session.
It's possible that this is the start of a 3rd wave of either a C wave or a 3rd wave of a new bullish cycle after a 3 part correction in the weekly.
The weekly and daily trends are up, I'll update with any potential scale in or entry opportunity for other traders that didn't enter with me. We were discussing this one with my friend Nick Coulby this morning, and I took the trade from my phone.
Good luck,
Ivan.
Trade closed: target reached
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