USDCAD POTENTIAL LONG FORMATION IN PROGRESS

We are looking to potentially long this pair due to the following reasons listed below:

1: Higher time frames remain largely bullish
2: Key Level breakout and change in market structure from bearish to bullish
3: Trendline breakout
4: Bullish falling wedge breakout

The consider the frame on multiple time frames before we consider which direction to potentially trade.

Commentaire:

Pullback seems to be in the progress of ending on the lower time frames. We will continue to monitor so we can identify a good entry point.

Ordre annulé:

An entry has been established. We have decided to cancel the trade as it does not meet our trading guidelines in terms of risk reward. With that being said, it is still a good trading setup

Commentaire:

Pair is officially in a consolidation. We will have to wait for a change in trend before looking for any trading opportunities.

Commentaire:

Pair has confirmed its previous bullish trending market condition. We will be looking for buys only until further notice.

Commentaire:

We need a strong enough pull back before looking for entries