POTENTIAL USDCAD SETUP. PRICE REJECTING MAJOR LEVEL AND FORMED A DESCENDING CHANNEL. LOOKING FOR A BREAK BELOW MINOR STRUCTURE FOLLOWED BY A RETEST FOR A SELL. WILL BE PAYING ATTENTION TO THE DYX AND ANY NEWS RELATED EVENTS. COMPARE WITH YOUR ANALYSIS. USE RISK MANAGEMENT! ! !
Since price is still in its distribution phase, I'm looking for another impulsive move to the upside before a major sell off. We have a major rejection of support but im looking for price to create a double bottom for confirmation. Be mindful of any heavy impact news releases related to covid or stimulus. Compare with your analysis. Use risk management!
Seems like indices are giving us major sell opportunities. Price create its last higher high before pushing to the downside. Will be looking for a break and retest on smaller timeframe. Be mindful of any news. Compare with your analysis. Use risk management!