I think 
USDCAD might be ready to trend down from here and fulfill the long term chart pattern implications. A long term decline back down to the mode in the 6-month timeframe is possible, but won't be a straight line down naturally. Ideally one would seek to short it when it gets overbought in weekly charts, for example, and aim to cover once oversold...rinse and repeat. This will provide countless trading opportunities for those who are patient and know how to read charts using Key Hidden Levels and Time@Mode.
Cheers,
Ivan Labrie.
USDCAD might be ready to trend down from here and fulfill the long term chart pattern implications. A long term decline back down to the mode in the 6-month timeframe is possible, but won't be a straight line down naturally. Ideally one would seek to short it when it gets overbought in weekly charts, for example, and aim to cover once oversold...rinse and repeat. This will provide countless trading opportunities for those who are patient and know how to read charts using Key Hidden Levels and Time@Mode.Cheers,
Ivan Labrie.
Note
A good entry would be on retrace to the level in purple here, stop loss above the level in green at least.
Trade fermée: ordre d’arrêt atteint
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Public, timestamped track record. Free month of the desk: ivanlabrie.netlify.app
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.