USDCAD: Multiple rejections, temporary bullish bias
Updated
Price has recently rejected the daily (D) ascending channel support level. Price then pushed up and broke out of the one-hour (1H) descending channel to form a higher high. Price then pulled back to retest support, forming a higher low. I expect price to continue to the upside.
**Rationale:**
- Ascending Channel Support (D)
- Multiple Rejections
- Elliott Wave Completion
- Descending Channel Breakout (1H)
- Higher High
- Retest of Support
- Higher Low
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
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#scalping
#intraday
**Rationale:**
- Ascending Channel Support (D)
- Multiple Rejections
- Elliott Wave Completion
- Descending Channel Breakout (1H)
- Higher High
- Retest of Support
- Higher Low
**Disclaimer:**
My trading ideas are market predictions and therefore should be viewed as such. As an intraday trader (scalper), I use my observations to identify potential trade opportunities on the higher time frames. I then aim to pinpoint key entry points on the lower time frames. Entries should always be verified by additional confirmations.
---
#scalping
#intraday
Trade closed: target reached
Fulfilled: 
Disclaimer
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