USD/CAD Lower Time Frame Long Strategy:
Analysis:
On the 15-minute chart, there is a clear bullish order flow, indicating a potential upward movement in the USD/CAD pair. Additionally, price action is respecting the 15-minute demand zone, further supporting the bullish bias.
Trade Plan:
You're considering a long position, with the intention of entering once price hits the last 15-minute demand zone. This zone has proven to be a significant area of buying activity and is viewed as a favorable entry point.
Rationale:
The decision to go long is supported by the bullish order flow on the 15-minute chart and the validation of the demand zone. This combination suggests a strong setup for a long trade.
1-Minute Confirmation:
Before executing the trade, you plan to wait for confirmation on the 1-minute chart. This could be in the form of a bullish reversal pattern, a break of short-term resistance, or other technical signals that align with your buy bias.
Buy Side Liquidity Target:
Your target for the trade is set at the level of buy side liquidity. This area represents a significant potential resistance point where a reversal may occur.
On the 15-minute chart, there is a clear bullish order flow, indicating a potential upward movement in the USD/CAD pair. Additionally, price action is respecting the 15-minute demand zone, further supporting the bullish bias.
Trade Plan:
You're considering a long position, with the intention of entering once price hits the last 15-minute demand zone. This zone has proven to be a significant area of buying activity and is viewed as a favorable entry point.
Rationale:
The decision to go long is supported by the bullish order flow on the 15-minute chart and the validation of the demand zone. This combination suggests a strong setup for a long trade.
1-Minute Confirmation:
Before executing the trade, you plan to wait for confirmation on the 1-minute chart. This could be in the form of a bullish reversal pattern, a break of short-term resistance, or other technical signals that align with your buy bias.
Buy Side Liquidity Target:
Your target for the trade is set at the level of buy side liquidity. This area represents a significant potential resistance point where a reversal may occur.
Comment:
has successfully reached the 15-minute demand zone, indicating a potential area of buying interest. Now, our focus shifts to the 1-minute chart, where we're patiently awaiting a break of structure. This could manifest as a shift in short-term momentum, potentially signaling an opportune moment to enter the trade.
Order cancelled:
Although price has reached the 15-minute demand zone, there has been no confirmation yet. The breach of this zone highlights the importance of waiting for lower time frame confirmation. This approach ensures we enter the trade with added certainty, increasing the likelihood of a successful outcome.