Evening Traders,
Today’s analysis – USDCAD – breaking back above Local S/R with technical confluence, Daily S/R target,
Points to consider,
- Price Action Impulse
- Local S/R Flip
- 200 MA & .618 Fibonacci Confluence
- Oscillators Neutral
- Increasing Volume
USDCAD’s immediate price action is impulsive above local S/R where confirming a bullish retest will allow us to have a bullish bias.
The Local S/R is in confluence with the 200 MA and the .618 Fibonacci, thus a bounce here is probable.
Both oscillators are neutral, maintain in their respective bullish control zones will signify strength in the immediate short term.
The volume profile is currently increasing, indicative of further momentum stored when price trades near a key trade location, the Local S/R.
Overall, in my opinion, USDCAD is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
The market can stay irrational longer than you can stay solvent. - John Maynard Keynes
Today’s analysis – USDCAD – breaking back above Local S/R with technical confluence, Daily S/R target,
Points to consider,
- Price Action Impulse
- Local S/R Flip
- 200 MA & .618 Fibonacci Confluence
- Oscillators Neutral
- Increasing Volume
USDCAD’s immediate price action is impulsive above local S/R where confirming a bullish retest will allow us to have a bullish bias.
The Local S/R is in confluence with the 200 MA and the .618 Fibonacci, thus a bounce here is probable.
Both oscillators are neutral, maintain in their respective bullish control zones will signify strength in the immediate short term.
The volume profile is currently increasing, indicative of further momentum stored when price trades near a key trade location, the Local S/R.
Overall, in my opinion, USDCAD is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
The market can stay irrational longer than you can stay solvent. - John Maynard Keynes
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
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 ⚔️
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.