A Cautious Downtrend Retracement in an Upward Trend
The USDCAD pair is currently experiencing a short-term retracement within a longer-term uptrend. While the overall trend remains bullish, it's important to exercise caution as we approach key support and resistance levels.
Key Levels to Watch:
Trading Strategy:
Risk Management:
The USDCAD pair is currently experiencing a short-term retracement within a longer-term uptrend. While the overall trend remains bullish, it's important to exercise caution as we approach key support and resistance levels.
Key Levels to Watch:
- Pivot High @ 1.4238
- Resistance, Major @ 1.4209
- SLO2 @ 1.4188 📉
- SLO1 @ 1.4087 ⏳
- TP1 @ 1.3894
- TP2 @ 1.3733
- TP3 @ 1.3614
- TP4 @ 1.3430
- BLO1 @ 1.3386 ⏳, minor support
- BLO2 @ 1.3279 ⏳, above major support
- Support, Major @ 1.3252
- Pivot Low @ 1.32286
Trading Strategy:
- Consider buying or taking long positions below 1.3386.
- Be aware of the potential for a sharp reversal.
- Maintain a bullish bias.
- Be prepared to adjust your position based on market developments.
Risk Management:
- A tight stop-loss order is crucial to limit potential losses.
- Manage your risk by avoiding over-leveraging your positions.
- Remember, technical analysis is a valuable tool, but it's not foolproof.
Professor C. E. Ward
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Professor C. E. Ward
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。