Looks like UCAD is in a consolidation box. I am waiting for price to break this area before taking a buy or sell. Many other CAD related pairs have CAD coming out and looking very bullish based on support/resistance as well as EMAs (I use 9/20). However with UCAD depending on your trading preference you could get an intraday sell and maybe a swing buy.
Many other CAD related pairs have CAD coming out favoring bullish pattern (maybe pullbacks/corrections). Also Oil seems to have a bit more of a bullish run before hitting resistance. As we know the correlation with Oil as it increases the value of UCAD goes down. I am also seeing triple top in the dialy, double top in the 4hr. TBH the top and best place to sell occurred at 1.305 now its a matter of waiting for price to retest above or come below the consolidation box 1.29300 area and retest there for a sell. I rather wait for the high or low before selling or buying. I will not set a pending order only market execution purely based on price action in the next 4 hr candle.
Many other CAD related pairs have CAD coming out favoring bullish pattern (maybe pullbacks/corrections). Also Oil seems to have a bit more of a bullish run before hitting resistance. As we know the correlation with Oil as it increases the value of UCAD goes down. I am also seeing triple top in the dialy, double top in the 4hr. TBH the top and best place to sell occurred at 1.305 now its a matter of waiting for price to retest above or come below the consolidation box 1.29300 area and retest there for a sell. I rather wait for the high or low before selling or buying. I will not set a pending order only market execution purely based on price action in the next 4 hr candle.