Trying the new Trading View Tool "The Arc" on Loonie
The Loonie reached my target zone according to my last published chart (www.tradingview.com/...DCAD-is-offering-us/) and now the momentum is getting slower. So, its good to look for short opportunities now.
The description is on the chart that why the current zone is turning out to be a strong Resistance area, One thing to notice here that there is no reasonable structure on the left but we got good number of reasons to confirm this as a strong Resistance zone.
I used the new tool "The Arc" in this chart to see the results. I will see how price will react to the arcs and how I can use it more efficiently and under which scenarios it would be helpful.
The idea will get invalid if we get the candle close above the recent highs. The target is the previous structure around 1.23 area. In my opinion UC will move in a 250 pip range this week, so for me this target is good enough.
Thanks for your time, I would love to hear your opinion, feel free to comment and if you like the idea then hit the thumbs up button.
Cheers.
The description is on the chart that why the current zone is turning out to be a strong Resistance area, One thing to notice here that there is no reasonable structure on the left but we got good number of reasons to confirm this as a strong Resistance zone.
I used the new tool "The Arc" in this chart to see the results. I will see how price will react to the arcs and how I can use it more efficiently and under which scenarios it would be helpful.
The idea will get invalid if we get the candle close above the recent highs. The target is the previous structure around 1.23 area. In my opinion UC will move in a 250 pip range this week, so for me this target is good enough.
Thanks for your time, I would love to hear your opinion, feel free to comment and if you like the idea then hit the thumbs up button.
Cheers.
