Looks like UCAD is in a consolidation box. I am waiting for price to break this area before taking a buy or sell. Many other CAD related pairs have CAD coming out and looking very bullish based on support/resistance as well as EMAs (I use 9/20). However with UCAD depending on your trading preference you could get an intraday sell and maybe a swing buy.
Many other CAD related pairs have CAD coming out favoring bullish pattern (maybe pullbacks/corrections). Also Oil seems to have a bit more of a bullish run before hitting resistance. As we know the correlation with Oil as it increases the value of UCAD goes down. I am also seeing triple top in the dialy, double top in the 4hr. TBH the top and best place to sell occurred at 1.305 now its a matter of waiting for price to retest above or come below the consolidation box 1.29300 area and retest there for a sell. I rather wait for the high or low before selling or buying. I will not set a pending order only market execution purely based on price action in the next 4 hr candle.
Many other CAD related pairs have CAD coming out favoring bullish pattern (maybe pullbacks/corrections). Also Oil seems to have a bit more of a bullish run before hitting resistance. As we know the correlation with Oil as it increases the value of UCAD goes down. I am also seeing triple top in the dialy, double top in the 4hr. TBH the top and best place to sell occurred at 1.305 now its a matter of waiting for price to retest above or come below the consolidation box 1.29300 area and retest there for a sell. I rather wait for the high or low before selling or buying. I will not set a pending order only market execution purely based on price action in the next 4 hr candle.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.