3 outcomes. A = Long B = Do Nothing C = Short. All you have to do is wait, some economic data releases over the coming days that will drive price. Simple.
If it breaks resistance nothing it stopping it from reaching 0.65000. Upwards moving trend, supported by EMAs. Simple.
Somewhat of a Long bias purely because price is at a level of support which also has the 288EMA below it as well. If it breaks through support and the EMA this could be a very profitable short. Lots of space to fill if it heads south. Or it will trade sideways. Simple.
Price trading in an upwards channel. Moving averages back up the longer term trend. Simple.
Price in uptrend. Price pull back. Press the buy button. Thanks for reading.
Some CAD CPI rubbish releases tomorrow. Maybe that will affect the direction of this trade idea. Maybe you shouldn't trade it because of the scary news.
I wish TradingView would let me just post snapshots. There is no need for me to explain my ideas, they are incredibly simple.
Price in uptrend. Broke through resistance. Buy at pullback. Simple.
Uptrend on 4h. Pullback to trendline, support and 200 EMA. Buy. Simple.
Price in downtrend. Maybe downtrend is over. 50 EMA closing in on the 200 EMA. Maybe bounces off of green support zone. Small position to start with (0.5% of capital). Scale in later. Wow simple.
If price breaks through the 0.57739 level then there is nothing stopping price from tumbling -4% down to the 0.55000 area. Very simple.
20, 60 day moving averages are now below price showing an early indication of a potential trend change. Price has broken out of the upper trendline. Wait for price to break the 0.89000 level which also coincides with the 250 moving average.