Evening Traders,
Today’s analysis – USDCAD – trading under local s/r that has technical confluence,
Points to consider,
- Price Action corrective
- Local S/R Resistance
(.618 Fibonacci Confluence)
- 200 MA Resistance
- RSI Bullish Control Zone
USDCAD’s immediate price action is trading under resistance that has technical confluence allowing for a short bias.
The .618 Fibonacci is in confluence with the 200 MA S/R, rejecting here is a greater probability.
The current RSI is trading in its bullish control zone, maintaining these levels are indicative of strength.
Overall, in my opinion, USDCAD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“There is a huge difference between a good trade and good trading.” – Steve Burns
Today’s analysis – USDCAD – trading under local s/r that has technical confluence,
Points to consider,
- Price Action corrective
- Local S/R Resistance
(.618 Fibonacci Confluence)
- 200 MA Resistance
- RSI Bullish Control Zone
USDCAD’s immediate price action is trading under resistance that has technical confluence allowing for a short bias.
The .618 Fibonacci is in confluence with the 200 MA S/R, rejecting here is a greater probability.
The current RSI is trading in its bullish control zone, maintaining these levels are indicative of strength.
Overall, in my opinion, USDCAD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“There is a huge difference between a good trade and good trading.” – Steve Burns
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。