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ShrewdCatfx
Jan 27, 2022 2:25 PM

USDCAD 4Hr Analysis Short

U.S. Dollar/Canadian DollarFXCM

Description

We have created a HH on the 4Hr Chart
However the way that the candles are printing has me concerned
for the bulls. Additionally, the Daily TF has a large top wick
. This wick was created during London Open as price came flying down
liquidating fomo buyers. Im looking for a correction down to 1.263.
Our Daily Resistance at 1.26850 appears to be holding fairly well

Comment

My Bias appears to Be wrong on the Previous Analysis

Comment

I have taken Buys based
On USD Strength
US Oil Weakness, Fakeout to gather liquidity
during this morning's NY Session.

Trade active

2:1 RR Trade

Trade active

15m Breakout to 1.27550

Comment

I believe the New 4hr candle can give us volume
and Impulse up to the next zone on DXY

Trade active

Trade is Stil Active, Up about 1R In profit
Targeting 1.27544 on the 4Hr Timeframe

Comment

4Hr Closed strongly bullish after London Close, Anticpating new 4hr candle to provide the ctalyst for another leg up to 1.2755

Trade closed: target reached

15m Took Profit
before Asian open. Not looking to give back profits on a hard pullback to
1.272
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