Analysis on #USDCAD
The USDCAD is currently trading between trend line support and trend line resistance
The resistance being near 1.2900
The support being near 1.2600
Sell Setup
>> If the market test my trend line resistance level again near 1.2900 then I will see if the market formed a reversal pattern, before entering a selling trade with a good risk to reward if the entry rules are met.
Buy Setup
>> If the market test my trend line support level and key support zone near 1.2600 then I will wait for the market to turn bullish on the lower time frame looking for a reversal pattern, before entering a buying trade with a good risk to reward if the entry rules are met.
⚡we need to be extra careful, markets are not respecting technical analysis due to current world circumstances
________________________________________
Dear Traders, the best "T h a n k Y o u" will be your likes and comments!
Thanks for your continued support!
________________________________________
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
The USDCAD is currently trading between trend line support and trend line resistance
The resistance being near 1.2900
The support being near 1.2600
Sell Setup
>> If the market test my trend line resistance level again near 1.2900 then I will see if the market formed a reversal pattern, before entering a selling trade with a good risk to reward if the entry rules are met.
Buy Setup
>> If the market test my trend line support level and key support zone near 1.2600 then I will wait for the market to turn bullish on the lower time frame looking for a reversal pattern, before entering a buying trade with a good risk to reward if the entry rules are met.
⚡we need to be extra careful, markets are not respecting technical analysis due to current world circumstances
________________________________________
Dear Traders, the best "T h a n k Y o u" will be your likes and comments!
Thanks for your continued support!
________________________________________
Disclaimer: This information is not a recommendation to buy or sell. It is to be used for educational purposes only*
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