Hello traders, here's how I'm watching USADCAD for possible shorting opportunities. It's as simple as the template to the side:
-Market in a previous downtrend, creating swing lows upon every impulsive drop.
-We've seen a correction that's testing previous supply zone
-We expect for some profit takings at that zone, thereby reducing the buy momentum
-Possible discounting from that zone too, to induce more buying pressure (logical for banks and retail traders to buy at discounted price)
-Wait for extra entry confluence at h=the current supply zone for a short trade.
Hope this helps, do give us a LIKE and FOLLOW, thank you.
-Market in a previous downtrend, creating swing lows upon every impulsive drop.
-We've seen a correction that's testing previous supply zone
-We expect for some profit takings at that zone, thereby reducing the buy momentum
-Possible discounting from that zone too, to induce more buying pressure (logical for banks and retail traders to buy at discounted price)
-Wait for extra entry confluence at h=the current supply zone for a short trade.
Hope this helps, do give us a LIKE and FOLLOW, thank you.