Bobthegoat_za

Is USDCAD in a Reversal structure ? Find out in my analysis.

Long
OANDA:USDCAD   Dollar Américain / Dollar Canadien
Previously USDCAD was in an impulsive phase from the beginning of March to mid March . Now the big question at the moment is what chart pattern is it currently making ,whether a continuation or a reversal chart pattern and the answer to that is "continuation" . USDCAD's behaviour in this consolidation phase had no characteristics of a reversal (There's no reversal chart pattern that looks like this) , so when i put trendlines on the outer most highs and lows I found out that USDCAD was in a falling wedge formation and I have two opportunities to go long.
1. The very bottom of the falling wedge
2. At the retest of the support zone after breaking out of the trendline on top and the resistance
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.