USDCAD Beat a strong Congestion and Resistance
After USDCAD beat the congestion/resistance zone, it also beat a Daily bear trend line.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and Bull trend line because we have a price over extended, or/also
- On the congestion/resistance zone exceeded.
We can have a setup for the next week.
Now on 4H timeframe we got a Bullish Bias and we can place a new bull trend line.
The congestion formed before breaking the Bear trend line and resistance could be seen as a retest, but i missed the entry bar. So now i expect a retest on the following zones:
- On the EMA and Bull trend line because we have a price over extended, or/also
- On the congestion/resistance zone exceeded.
We can have a setup for the next week.
Trade active:
As expected, The price retested the congestion/support zone and showed an anti climax and pressure zone setup.
