USDCAD: Watch This Level #Forex
Friends,
We're at a potential level where we could see an upcoming trade coming up. We are now waiting to see the outcome of this, whether we will be going long or short. If we see downside movement, through the support line, we can short to the channel bottom and keep hold anticipating channel bottom, and channel break.
If we see the price retest off the support line and, or channel bottom, and price goes up, we can long safely here. NOTE: The long will be a lot more reliable if we do NOT test the channel bottom, if price ricochets off the red support line, and continues upward, then this is a much more reliable long trade. And we anticipate a channel break to the upside to hit further upside targets. These measurement targets have been outlined on the chart.
We're at a potential level where we could see an upcoming trade coming up. We are now waiting to see the outcome of this, whether we will be going long or short. If we see downside movement, through the support line, we can short to the channel bottom and keep hold anticipating channel bottom, and channel break.
If we see the price retest off the support line and, or channel bottom, and price goes up, we can long safely here. NOTE: The long will be a lot more reliable if we do NOT test the channel bottom, if price ricochets off the red support line, and continues upward, then this is a much more reliable long trade. And we anticipate a channel break to the upside to hit further upside targets. These measurement targets have been outlined on the chart.
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