Sorry for the background noise... I'm watching to see a bit more rejection and the next possible leg down to continue a bit of weakness.. for now anyway!
Still not in a short position but was expecting to see this push down. Just thought id break it down and show the next couple areas I'm interested in, long term I see the trend continuing but ill be looking for longs on the retracement just in case.. always remember to trade with a plan and stick to it!
Price on USDCAD is struggling to break above the resistance of 1.38000, with price looking weak again on the forth rejection. This is creating a right shoulder for a head and shoulders on the 4hr and daily chart. Strength coming back into the USD but the Canadian dollar holding ground for now. Ill be entering shorts with stops tight above the last few rejections...
Looking for price to make a continuation hopefully off the back of some USD strength, as I've covered fundamentals can change things very quick but if you can get a position before anything affects the market you can give yourself the opportunity to catch huge moves! Trade smart and keep on top of your risk management! good luck
Hey everyone please let me know your thoughts in the comments.. I'm staying clear of USDCAD until be get a bit more direction so next week ill update if I'm looking at taking positions.
I have been trying to record a video for the past week. Finally i think i am getting one that does not fail. When i was positing before, and i may have mentioned it on one of the earlier BTC post, that there appears to always be this redline dive to build the buyers desire then launch and fomo to shoot to next level. The hard bounce. Powered by us. If this is it...