Waiting For A Reversal On The USDCAD

Buyers have been dominant leading to the series of Higher Highs(H, HH1, HH2 and HH3) with the corresponding series of Higher Lows(L, HL1 and HL2). However, "Point F" is challenging "HL2" instead of creating a supporting Higher Low. And since the last push by buyers was very brief, it's likely that we see a reversal in the direction of price as momentum decreases.

Keep in mind, price is still in buyers territory so the current buyers have to give up before sellers start to dominate.

Trade with care. Use a strategy you have tested and verified.

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Commentaire:

Buyers haven't given up yet, I will update the chart once I see something interesting.

Commentaire:

There is a high probability sellers start to dominate, use a strategy you have tested and verified.