omare562

omare562

Current situation of USD/CAD. Currently has been in a uptrend. A trend inside of the trend has formed. It broke out of the bounce and now has headed to the downside.

omare562

4H Time frame of USDCAD. More in depth look.

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A clear overview

omare562

Waiting for price to break out of consolidation. It's still in an ascending trend line structure.

omare562

Trapping price zones. Lets see what happens on the smaller time frames.

omare562

Had a zone I saw. Clean break above the moving average. I traded what the market gave me.

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Long wick gave confirmation in the zone. next candle rose quickly out of trend line.

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Saw something going on with that resistance line and zone. Graveyard doji can be seen the exhaustion push candle up. Then that fall began to come. Kept it simple on this one.

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Broke my trend line. Bounced off the Fib level and zone. Then burst through above both my moving average. All the confirmation I needed.

omare562

Price broke like many other over the weekend. Although, this pair hasn't had and type of structure form. It's in consolidation, a consolidation box at that at the moment. As I look to the left I noticed price has struggled in this zone quite a bit in the past. I will be paying attention to this pair. I

omare562

Price broke over the weekend and dropped. Waiting to see if LH and HL are made or HH and HL. I have two trend lines drawn out in case price does come their. Also price is in a zone and by a Fibonacci Level 38.2 for a potential reversal.

omare562

Support to resistance, price is struggling. It currently at the 50% on the Fib Level. If it holds their longer should be a short

omare562

Too early to tell. A quick mark up open today's open on this pair. See if we get a break of the neckline or bounce of the trend line.

omare562

short analysis