**Weekly Chart**
After the Ring Low formation on 25th Dec 2023 weekly chart, the USDCAD moved higher creating bullish weekly candles for 6 consecutive weeks. This is a strong confirmation that Ring Low formation near demand zones plays a critical role in higher time frames.
**Daily Chart**
A similar Ring Low formation appeared on Daily Chart. USDCAD is still moving higher ahead of CAD Economic news this week. Therefore, I plan to wait for a reversal confirmation around 1.36000 level which is the previous liquidity pool before taking a trade.
After the Ring Low formation on 25th Dec 2023 weekly chart, the USDCAD moved higher creating bullish weekly candles for 6 consecutive weeks. This is a strong confirmation that Ring Low formation near demand zones plays a critical role in higher time frames.
**Daily Chart**
A similar Ring Low formation appeared on Daily Chart. USDCAD is still moving higher ahead of CAD Economic news this week. Therefore, I plan to wait for a reversal confirmation around 1.36000 level which is the previous liquidity pool before taking a trade.
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Penafian
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I offer Private Trader Mentoring Program. This is Exclusive program by Invitation Only. Contact me directly for more information.
Penerbitan berkaitan
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.