Hi, my take on USDCAD
Price made a double bottom recently , then move up in a strong impulsive move. Then it formed a consolidation period (between line A & B).
Price just retested the support line B again, and as we can see the downward move 2 (blue arrow no 2 ) has lower volume wave (on Weiss volume indicator) than the downward move 1 (blue arrow no 1), which may indicate no strong selling interest to push the price much lower.
We can also see the candle labelled C (green up arrow), which has lower volume than the previous 2 candles , so this is a NO SUPPLY candle at support.
I'm looking forward for price to move up again at least till the upper line A.
Trade at your own risk. Comments are welcomed.
Price made a double bottom recently , then move up in a strong impulsive move. Then it formed a consolidation period (between line A & B).
Price just retested the support line B again, and as we can see the downward move 2 (blue arrow no 2 ) has lower volume wave (on Weiss volume indicator) than the downward move 1 (blue arrow no 1), which may indicate no strong selling interest to push the price much lower.
We can also see the candle labelled C (green up arrow), which has lower volume than the previous 2 candles , so this is a NO SUPPLY candle at support.
I'm looking forward for price to move up again at least till the upper line A.
Trade at your own risk. Comments are welcomed.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.