Potential Long term outlook on USDCAD TOPDOWN ANALYSIS
*FOR JOURNALING PURPOSES*
TOP DOWN ANALYSIS:
Monthly: Large engulfment. may start moving higher to fill imbalance, to continue moving lower. There is however very large Monthly Equal highs. Something to be mindful of
Weekly:
- MACD: Push through the downside, came back through the upside and created LH and pushed back through the downside (indicating that 1.295 may be the high until we break the weekly low around 1.2
- Weekly Imbalance (YELLOW) that needs to be filled
Daily:
- Price in accumulation phase. can really appreciate it on the H4.
-MACD: Look like its trying to put in the Higher low. Can start pushing to the upside to retest and put in the LH. Would start looking for airspace on Daily and H4 to confirm move up . Price may end up in the Daily imbalance (Pink) or weekly imbalance.
H4: MACD created low, high, now look like its retesting to potentially create a higher low
TOP DOWN ANALYSIS:
Monthly: Large engulfment. may start moving higher to fill imbalance, to continue moving lower. There is however very large Monthly Equal highs. Something to be mindful of
Weekly:
- MACD: Push through the downside, came back through the upside and created LH and pushed back through the downside (indicating that 1.295 may be the high until we break the weekly low around 1.2
- Weekly Imbalance (YELLOW) that needs to be filled
Daily:
- Price in accumulation phase. can really appreciate it on the H4.
-MACD: Look like its trying to put in the Higher low. Can start pushing to the upside to retest and put in the LH. Would start looking for airspace on Daily and H4 to confirm move up . Price may end up in the Daily imbalance (Pink) or weekly imbalance.
H4: MACD created low, high, now look like its retesting to potentially create a higher low