Seeing genuine bear continuation despite being at 2009 levels. Due to the trend and the technical circumstances I'm seeing, I think price actually really could break the 2009 lows, which is a big thing, however, good for us.
1: Strong in the
2: 20MA is acting as resistance
3: Fibonacci/Ratio confluence validates, and confirms a level we can continue to trade from.
4: We have hidden divergence, which I think is very strong, and will have technical traders packing shorts (In anticipation of the 2009 low break)
When trading this it is worth watching USDCAD with this trade, as it will inevitably move hard when Oil breaks the 2009 lows (I suspect Oil will grab a lot of momentum when it breaks the 2009 lows because it will provide a rare technical opportunity to short Oil off of high probability momentum.
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Best of luck