4 hours timeframe of USDCAD
1. On 4 hours timeframe of USDCAD, you can see this bearish market structure reacted on USDCAD due to the falling wedge pattern and the price has broken at the supporting region of 1.4150
2. After that, USDCAD was continually to form market downward while the market was retested at 1.4146 and the price has broken at the second supporting region of 1.40080. In my opinion, USDCAD will be going down until the lowest currency points of 1.37871
3. However, the spike candle were consolidated at the supporting region of 1.40080, which made of market pullback and breakup the descending trend line on 1 hour timeframe, so that theprice action of USDCAD didn't meet my confirmation price level and I was missed the trade opportunity on USDCAD
1. On 4 hours timeframe of USDCAD, you can see this bearish market structure reacted on USDCAD due to the falling wedge pattern and the price has broken at the supporting region of 1.4150
2. After that, USDCAD was continually to form market downward while the market was retested at 1.4146 and the price has broken at the second supporting region of 1.40080. In my opinion, USDCAD will be going down until the lowest currency points of 1.37871
3. However, the spike candle were consolidated at the supporting region of 1.40080, which made of market pullback and breakup the descending trend line on 1 hour timeframe, so that theprice action of USDCAD didn't meet my confirmation price level and I was missed the trade opportunity on USDCAD