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VladimirRibakov

USDCAD Buy Idea With Two Possible Scenarios

Long
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
VladimirRibakov  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Support and Resistance Multiple Time Frame Analysis USDCAD buy Bullish Patterns support falsebreaks Bullish Divergence correction
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trendanalysis supportandresistance mtfa usdcad buy bullish support falsebreaks bullishdivergence correction
D1 - Price is bouncing higher from a key support zone.

Multiple false breaks with bullish divergence.

H4 - After the strong bullish move currently it looks like a flat correction is happening.

Scenario 1 - More aggressive approach. Looking for bullish setups from the bottom of the consolidation.

Scenario 2 - Breakout above the consolidation zone, and only then looking for bullish setups.

If we get a valid breakout below this strong support zone then it would invalidate this bullish view.


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