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VasilyTrader
Nov 6, 2023 7:54 AM
USDCAD: Intraday Bearish Outlook Explained 🇺🇸🇨🇦
Short
OANDA:USDCAD
60
USD/CAD
OANDA
Description
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Nov 6, 2023 7:54 AM
USDCAD is trading in a falling parallel channel on an hourly time frame.
I also spotted a descending triangle formation within.
The violation of a horizontal neckline of a triangle is a strong intraday bearish confirmation.
The price will most likely keep falling.
Goals: 1.3630 / 1.3615
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Comment
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Nov 7, 2023 6:37 AM
After the market reached the first target,
the price bounced and violated a resistance of the channel, invalidating a trading setup
Triangle
Parallel Channel
Trend Lines
USDCAD
priceaction
priceactiontrading
priceactionanalysis
priceactiontrader
priceactionstrategy
Contains image
Comments
VasilyTrader
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Nov 6, 2023 7:54 AM
Are you bearish on USDCAD?
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