Nice confluence:50% retracement +price stalling at 200EMA in H4!

FX:USDCAD   U.S. Dollar / Canadian Dollar
607 4 4
This technical picture is great to play the 1.3360 resistance breakout that occurred a couple of days ago.

After the breakout the price retraced to the 50% of the last impulsive move and is now stalling right above the 200EMA.
The overall trend is bullish which makes it a perfect entry point. In addition to that, the stochastic oscillator is now evolving in oversold territory showing that the downside potential is now limited.

Thank you
Done !
Congratulations! Your chart has been selected to be highlighted as today's featured post! This is a great use of multiple trading tools to validate a support level.
+1 Reply
TheOnlyVince walker.england
Thanks man sounds good, what is the today's featured post? Any link so I can see it? Cheers!
It will be the same link, but will be listed as the top suggested post for the day on TradgingView.
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