ridethepig | USDCAD Market Commentary 2020.10.28
📍 I am trying something out here with some faster flow charts. This is of similar nature to the preparations and strategy notes we made in EURUSD:
In order to liberate the highs in USDCAD, buyers must take out the Tokyo defence. They are hoping to prevent the breakup for as long as possible, the annoying notion for sellers is Canada cases accelerating quickly and lockdowns chapter II entering into play.
We also have managed to provoke the bull into attack from the Oil side. The supply side outweighs the demand side and will only continue to widen as national lockdowns enter back into play. The moves lower in Oil are also playable of course.
Thanks as usual for keeping the feedback coming and if these shorter-term flow charts are becoming more useful for those trading the faster flows.
In order to liberate the highs in USDCAD, buyers must take out the Tokyo defence. They are hoping to prevent the breakup for as long as possible, the annoying notion for sellers is Canada cases accelerating quickly and lockdowns chapter II entering into play.
We also have managed to provoke the bull into attack from the Oil side. The supply side outweighs the demand side and will only continue to widen as national lockdowns enter back into play. The moves lower in Oil are also playable of course.
Thanks as usual for keeping the feedback coming and if these shorter-term flow charts are becoming more useful for those trading the faster flows.
Comment:
..and we got the break!
Trade closed: target reached:
First targets cleared ✅
Trade closed: target reached:
Second targets cleared ✅
