USDCAD: Sitting at a Decision Point

FX:USDCAD   U.S. Dollar / Canadian Dollar
After holding higher timerframe resistance the USDCAD             has made 220+ pip move to the downside and has now found previous structure support .

I like to call this area a "decision point" when doing my analysis because a few trading opportunities are offered at this level depending on how price reacts.

1) IF support holds THEN we have a potential buying opportunity.

2) IF support fails THEN we have a potential selling opportunity as it turns to resistance

2) IF Support holds and retraces back towards the 1.3130's level THEN we also have a potential selling opportunity

These are the type of pairs that I put at the very top of my watch list as potential opportunities are right around the corner
Comment: Eyes locked, looking for a potential short (option 2)
Comment: Option (1st) 2...I just saw that I post multiple "2)'s"
Comment: Stalking the 5 Range Bar Chart for entries. Currently looking at 1.3034's to get short
Comment: Negative Canadian news this morning has pushed the USDCAD up to our Killzone. Still looking for entry reasons to get short
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bearish bat on the 15 m w/ expanding triangle pattern completing the bearish bat.

+1 Reply
Thanks for the share & best of luck in your trade!

Short on supply zone (Daily IPDE with entry on lower time frame)
+1 Reply
Nice, good luck with the trade
Niverto Akil_Stokes
Thanks Akil, I have applied pro trader course principle with the supply and demand zone making it a good package.
+1 Reply
No problem!
Perfect short akil, it's a bear :-)
+1 Reply
Besides being in the short killzone, what else do you wait for to get involved ??????
+1 Reply
Akil_Stokes CortesTeam
Once price action is in a killzone I then look for an entry reason. this can be as aggressive as an at market order, to as conservative as a 2618 depending on the situation
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