A few days ago I shared an idea looking at the USDCAD predicting that price action has an opportunity to go as far as $1.40 before hitting any significant resistance. On that post I was looking at 2 levels, a main potential reversal zone and a smaller potential reversal zone in which I had an aggressive reason for entry.
Well, price action just missed my entry by a few pips which means I had to clear orders and wait to see if the market would provide another opportunity. I had some questions about the analysis as well so I decided to discuss it in a trading video (link below) along with my opinion on how to play next week's interest rate decision.
The main potential reversal zone is still on my radar but because we've created a new structure high, I'll also be eyeing up a closer zone between 1.3620's-1.3515's.
Here's the link to the video & if you're not a subscribe of mine on youtube stop missing out & become one
Thanks but no thanks, i already have an eye test set up with my doctors at home
marcus123
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Is this a cryptic message?
Akil_Stokes
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I don't use trendlines, but the link looked pretty cool for somebody who does. Apologies for my other response, for some reason I didn't see the attached link until now, just thought you were telling me to get my eyes checked
Moltenmetal
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Interesting you say you don't use trendlines - looking at structure is basically using horizontal trendlines. It is interesting to note just how often higher lows or lower highs respect a diagonal trend line joining the previous points - just like structure on a horizontal line. Still, everyone has their own style of analysis.
Akil_Stokes
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I love your last sentence. "Everyone has their own style of analysis"
Skikus
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Nice one Akil I was looking into this similar way but only drop atm we will see whats next
just looking at Harmonics and a Butterfly Pattern on the Daily , i think this Bull run will continue as per my chart .