Institutional Weekly and Daily SUpply for USD/CAD
Dear Traders,
Based on NFP later today, this swing trade can be interesting this afternoon of next week! If we see a slight push up today based on news or being a fake breakout to the upside, I am expecting a strong pullback down.
Monthly: The monthly chart is sitting at a long-term bearish trendline, which almost always results into a nice daily pullback.
The Weekly: The Weekly chart is in a bearish run and in need of a pullback, based on our weekly strategy, it is very likely to see a push down from here based on the clean fresh supply area. (Even though the zone is not 100% valid)
The Daily: This time frame is used for timing, price is sitting in fresh daily supply and has been decelerating for a while now, based on the news incoming it is recommended to take it as a swing trade with an entry on top of the daily wicks. This way you're triggered in when it looks like a bull trap.
Let's see how this one goes.
Our community is currently positioned in EUR/USD Shorts since monday, which are running very nicely.
Based on NFP later today, this swing trade can be interesting this afternoon of next week! If we see a slight push up today based on news or being a fake breakout to the upside, I am expecting a strong pullback down.
Monthly: The monthly chart is sitting at a long-term bearish trendline, which almost always results into a nice daily pullback.
The Weekly: The Weekly chart is in a bearish run and in need of a pullback, based on our weekly strategy, it is very likely to see a push down from here based on the clean fresh supply area. (Even though the zone is not 100% valid)
The Daily: This time frame is used for timing, price is sitting in fresh daily supply and has been decelerating for a while now, based on the news incoming it is recommended to take it as a swing trade with an entry on top of the daily wicks. This way you're triggered in when it looks like a bull trap.
Let's see how this one goes.
Our community is currently positioned in EUR/USD Shorts since monday, which are running very nicely.