USDCAD POTENTIAL LONG TRADE (MEDIUM TERM) 1-3 WEEKS
Alright! Got another one here. This was one I had also posted sells on a couple weeks ago but now after watching price I just have a feeling this market has another push to the upside. So lets take a look!
OK so when I did my last analysis you can see that I was looking to short USDCAD into some demand zones. This zone I have marked is the first of 2 zones, and after seeing price struggle to move lower, it leads me to believe this could potentially move to upside for one more impulse leg so to speak. ALSO what I have realized is that price still potential has a 3rd push (3 push psychological rule) to the upside and could leave price pushing to new highs before potential downside. I know everyone is going to be like..."WHAT DO YOU MEAN THIS IS AT RESISTANCE AND JUST IS BREAKING LOWER YOU ARE CRAZY!" etc etc lol. Trust me I get it. But once you have been in the market for 10+ years you start to recognize when price is showing one thing but lining up to do another.
Without getting too complicated what we want to see is how price reacts around this demand and see if there is a demand shift back to upside to create a move to upside supply. Keep an eye out!
Cheers!
OK so when I did my last analysis you can see that I was looking to short USDCAD into some demand zones. This zone I have marked is the first of 2 zones, and after seeing price struggle to move lower, it leads me to believe this could potentially move to upside for one more impulse leg so to speak. ALSO what I have realized is that price still potential has a 3rd push (3 push psychological rule) to the upside and could leave price pushing to new highs before potential downside. I know everyone is going to be like..."WHAT DO YOU MEAN THIS IS AT RESISTANCE AND JUST IS BREAKING LOWER YOU ARE CRAZY!" etc etc lol. Trust me I get it. But once you have been in the market for 10+ years you start to recognize when price is showing one thing but lining up to do another.
Without getting too complicated what we want to see is how price reacts around this demand and see if there is a demand shift back to upside to create a move to upside supply. Keep an eye out!
Cheers!
Comment:
USDCAD coming close to demand level. Keep eye out
Comment:
Nothing yet
Order cancelled:
Not performing how I would like
Comment:
See USDCAD breaking lower! Had a little reaction but going to lower demand levels