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FX_Trader_Analyst
Feb 21, 2016 6:44 AM

CORRECTION TOWARDS 1.34 Short

U.S. Dollar/Canadian DollarFXCM

Description

This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements

Daily
  • Pivot points: Price below Weekly Monthly Central, Accepted WS2 and MS1
    Support/Resistance:At resistance
    EMA: Below 55 and 21 ( 21 above 55)
    Trend: Bullish with current correction
    Structure: LH,LL,LH,LL currently LH
    Bias: Bullish with correction
    Psychological levels: 1.38 just above current price
    Stochastic:Downwards approaching 30 levels
    Fib: Within a buy zone from previous move however currently in correction

4H Chart
  • Daily Pivot: DR2 rested and accepted
    Support/Resistance:Currently sitting at support
    EMA: 55 was tested and accepted
    Trend: Downwards - correction
    Structure: LH after double bottom
    Stoch: Overbought

1H Chart:
Suport/Resistance: Price sitting at support
Stoch: Oversold
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