Eyes on USDCAD for possible BIG move! 🐻
HTFs - this has been lining up for quite some time now, weekly shows an ascending channel which was completed at the 3rd touch and price rejected just short of long term highs (see screenshot). Should add that significant highs from May 2017 are already convincingly broken. There has been a decent move down, followed by a sideways HTF structure acting as a flag for more downside |
LTFs - looking at the structure just on the hourly, it seems clean. A good signal is the corrective approach heading towards the highs and outer structure for a completion. The patterns within patterns increase the probability of this move playing out. It reminds me of the GBPJPY trade I took in February which banked me over 17% and should have been more (see screenshot).
ENTRY - I'll be very patient waiting for the high value areas at the top of structure. Ascending price formation or a 1H retrace and I'll be looking to get in to hold for the medium term.
LTFs - looking at the structure just on the hourly, it seems clean. A good signal is the corrective approach heading towards the highs and outer structure for a completion. The patterns within patterns increase the probability of this move playing out. It reminds me of the GBPJPY trade I took in February which banked me over 17% and should have been more (see screenshot).
ENTRY - I'll be very patient waiting for the high value areas at the top of structure. Ascending price formation or a 1H retrace and I'll be looking to get in to hold for the medium term.