FX:USDCAD   U.S. Dollar / Canadian Dollar
Fresh supply zone ahead, possible retracement, short opportunity.

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is
Is this trade invalidated?
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Hi Tradewonk

Will you wait to join this trade until after today´s BOC´s rate decision and statement? Or have you already joined in?
Thx.
Reply
Price is currently at 1.26233-1.26658 zone, will you consider this zone a supply zone?
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Dear Sir,

Could you please write in your future analysis :
Entry Point * target point -stop loss point and thank you for your great support
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1.26233-1.26658 how do u think about this supply zone?
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@CNYANG, I am looking at the same zone here.
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CNYANG paul_lerit
@paul_lerit, it seems still has reaction
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Do you use a lot of fibonacci in your analysis Tradewonk?
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Tradewonk tudiwejuv9801
@tudiwejuv9801, No, i use what you see
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thanks for the analysis!
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