Hey guys,
next week i'm going to keep an eye out for this situation on USDCAD. We've hit the 2016 lowest low and the trend has been very strong lately. As you know, every trend must retrace, sooner or later, and key structure points allow us to select certain zones in order to make educated guesses about price movement. In this case i know this level plays a key role in determining price action from now on and i've also noticed RSI oversold on the weekly (rare situation). Every sign of a reversal could be a great opportunity to make some profits. As usual, i'll let you know if and when i'll get involved.
If you have any questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
next week i'm going to keep an eye out for this situation on USDCAD. We've hit the 2016 lowest low and the trend has been very strong lately. As you know, every trend must retrace, sooner or later, and key structure points allow us to select certain zones in order to make educated guesses about price movement. In this case i know this level plays a key role in determining price action from now on and i've also noticed RSI oversold on the weekly (rare situation). Every sign of a reversal could be a great opportunity to make some profits. As usual, i'll let you know if and when i'll get involved.
If you have any questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Trade active:
Trade closed: stop reached