USDCAD wait for high probability confirmation

FX:USDCAD   U.S. Dollar / Canadian Dollar
42 0 1
Scenario #1
Candle break the weekly resistance,
and now becoming new possible support.
We will wait for a retest and continuation.
Target next monthly resistance.

Scenario #2
Candle false break the weekly resistance,
and back down.
Weekly resistance level still valid.
Short position with target at lower trend line .

Scenario #3
Possibility entering consolidation area.
Wait for confirmation.
Possible breakout.

Please add a comment... Positive feedback and constructive criticism...
Subscribe, follow, and like...

Thank you for your support.

FX ID Group
Email: info@fxidgroup.com
Comment: today ucad gap down, strong break below the key resistance.
Let see when daily candle close.
Comment: A strong bear move at US session...
If the daily close with bearish candle.
I will have a short position ready (scenario #2)
Comment: After yesterday strong break at the key resistance + today gap down... perhaps many traders were trapped to open long (with intention to close the gap and continue long)
I personally always trade more conservative, waiting for a confirmation before any possibility to open position.
Trade active: I open short at market price,
after yesterday daily candle gap down and close below the resistance.
looks like the resistance key level is still intact.
scenario #2 is ON
Trade closed: stop reached: Yesterday, the key level resistance break
Thank you UCAD :)
Comment: looks like my SL is too narrow ??
Comment: waiting for another possible setup
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out