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 ⚔️
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
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 ⚔️
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。