USD/CAD-
CAD fundamentals pushed UCAD higher creating a HH allowing traders to see that we are in a trending market which makes it easier for us to trade the market. WHY? due to the fact that the trend is your friend. H and S completed below referring as a reversal pattern on UCAD. A break above 1.33500 was also necessary and as possibilities occurred now we have price approaching 1.33500 to confirm if its ready to reverse or not. Im more keen into 1.33000 as that comes into my 50% Fib level. As price approaches its range this will significantly allow me to take the XAU/USD Short trade once it has reached 1320.00. Adding all the confluences together to have the most high probability set ups is all we need.
CAD fundamentals pushed UCAD higher creating a HH allowing traders to see that we are in a trending market which makes it easier for us to trade the market. WHY? due to the fact that the trend is your friend. H and S completed below referring as a reversal pattern on UCAD. A break above 1.33500 was also necessary and as possibilities occurred now we have price approaching 1.33500 to confirm if its ready to reverse or not. Im more keen into 1.33000 as that comes into my 50% Fib level. As price approaches its range this will significantly allow me to take the XAU/USD Short trade once it has reached 1320.00. Adding all the confluences together to have the most high probability set ups is all we need.