USDCAD 30min Analysis January 22nd, 2021
Price is at our key structure zone of 1.2700
Trade Scenario 1: Bearish - For us to go short we need to see a strong rejection off our structure zone and price to fall back below the 30min 200MA. We will then wait for a retrace and for a new LH to form. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price break above our structure zone with conviction. We will then wait for a retrace and for 1.2700 to flip as support. Enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we need to see a strong rejection off our structure zone and price to fall back below the 30min 200MA. We will then wait for a retrace and for a new LH to form. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we need to see price break above our structure zone with conviction. We will then wait for a retrace and for 1.2700 to flip as support. Enter on strong bullish setups.
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