Clear trend to obvious resistance. Break will be obvious too

FX:USDCAD   U.S. Dollar / Canadian Dollar
216 0 9
If you missed my Twitter post earlier today, here I come with the details again.

- Beautifuly textbook bearish trend and Ichimoku setup
- Price reached an obvious long term support/resistance area at 1,2450-1,2550. We saw a very agressive reversal here today. Heikin-Ashi candle tells the story: market was confident in short in the morning (European trading session), but got short squeezed by the afternoon (after US joined). This also means Price is testing the precise bearish trendline .
- haDelta has been building bullish divergence . It also shows how agressive the price action is today!
- In case the trendline breaks, short squeeze will continue towards 1,2850, or maybe even to 1,30-31 zone!

Price action depends a lot on global risk on/off sentiment and the price development in Crude Oil             .

Don't rush to go long in big!

- Ichimoku setup quickly changed back to neutral.
- EWO: bullish divergence , value is back to zero.
- Heikin-Ashi is bullish , but wait with buying, as haDelta hit an extreme high!
A dip back towards 1,2620+ is likely. We have to see a higher low print there. In that case, with next buy signal we can go long 0,5-1 unti, and increase to 1,5-2 units when price later breaks above Kumo, 100WMA and trendline too!

As this train is crowded enough, the move to the North can be quick, and I really think 1,30 can be reached quite quickly.

Be wise when and how you build your counter long position! Don't burn your account, don't get frustrated. Be smart, fllow your rules!
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