USDCAD OUTLOOK
Price trading inside bearish channel but has rejected and broke out of structure, hence indicating a potential change in trend.
If it reaches the key order block and mitigates, there might be a potential opportunity for a long entry.
We had already marked the Key Level, but will make sure to look out for the price action before making any entries.
Impulse long entries can be taken once price rejects that region.
We had our longs set up with potential downside in the R:R ratio of 1:4.
Price trading inside bearish channel but has rejected and broke out of structure, hence indicating a potential change in trend.
If it reaches the key order block and mitigates, there might be a potential opportunity for a long entry.
We had already marked the Key Level, but will make sure to look out for the price action before making any entries.
Impulse long entries can be taken once price rejects that region.
We had our longs set up with potential downside in the R:R ratio of 1:4.