USDCAD LONG (TRIANGLE CONSOLIDATION)
Price showed triangle consolidation pattern, with new trendline forming (higher high, higher low), I will be expecting to long this pair.
I looked into lower timeframe and found a forming pinbar in H4, showed price refusing to go lower. What I am expecting is for the bulls to buy the USD up.
NEWS FACTOR : With this, we will have to look into the news factor. What news can drive the USDCAD up? DXY. If DXY show strength, this setup will be as successful
*Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
I looked into lower timeframe and found a forming pinbar in H4, showed price refusing to go lower. What I am expecting is for the bulls to buy the USD up.
NEWS FACTOR : With this, we will have to look into the news factor. What news can drive the USDCAD up? DXY. If DXY show strength, this setup will be as successful
*Please note that I am no professional trader, like most of you people. I am still learning and know that trading is only a possibility game. My analysis does not mean it is a signal for entry. If you would like to enter with my analysis, please see if it matches with your analysis & thoughts. I will not be liable for any losses incurred :D *
