USDCAD is trading in range bound with 170 PIPS range. some time ranges are the best things to play just buy the support and sell the resistance. as this one is 170 pips range which can deliver fine risk to reward. currently the price is at resistance level and being rejected due to selling pressure. will the pair head back to support area ? what you guys think of this idea ?
The simplicity of your chart is refreshing; it really allows the focus to be on price action. Are there other confluences that you consider before deciding that the selling pressure will dominate at this resistance level? Keep up the good work!
Johnny2Coins
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I like your idea to trade the range but I don’t think we will fall as you show in your chart but rather break upwards.