Multi Timeframe Analysis
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
USDCAD will continue its bearish momentum until 1.2450 which is strong market structure. Monitor price action at this final point and if the 4H data reveals a shift from bearish to bullish price reversal, expect strong bullish impulse upward which can break the last weekly high. Be quick- you may not catch the wave.
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
USDCAD will continue its bearish momentum until 1.2450 which is strong market structure. Monitor price action at this final point and if the 4H data reveals a shift from bearish to bullish price reversal, expect strong bullish impulse upward which can break the last weekly high. Be quick- you may not catch the wave.