Forex_League

USDCAD Analysis Dec 19 2021

FX:USDCAD   美元 / 加元
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.

On the weekly timeframe we are testing a level of resistance and last week managed to close above it. The level is in the 1.28700 area. This week will be a test to see if we will stick above this level.


On the H4 timeframe we can see that price made a new higher high point and we formed the first HL following. Once price either retests the 1.28600 level and finds it as support or breaks below there and reject it we will be taking trades.
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