Price bounced from the downtrend line and gave a signal for possible short trades. Entry level is below 1.30250, stop above the local swing high. Place take-profit orders near the uptrend line.
Thanks for your great analysis!
Here is my view on USD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones.
The short level (1.3666) is placed where a cummulation before a strong sell-off took place.
The long level (1.2922) is based on strong rejection activity accompanied by huge volumes (seen on the right cummulative volume on the right).
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
DLavrov
⋅
@Trader_Dale, thanks a lot for your comment and your chart, Dale! It's great!
Here is my view on USD/CAD if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones.
The short level (1.3666) is placed where a cummulation before a strong sell-off took place.
The long level (1.2922) is based on strong rejection activity accompanied by huge volumes (seen on the right cummulative volume on the right).
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale