USDCAD - Expecting a Consolidation - Another Trendline Bounce
Hi Traders!
The market is in a Downtrend.
As always, let's begin with the daily Timeframe:
You can see a descending Wedge (with one bearish Fake out).
Consider the distance between the Trendlines: It is getting tighter and tighter.
Because the market has fallen very much and reached now an Area of neutrality, we expect a consilidation now.
Let's move on to the next Timeframe:
The price is now at the lower Trendline.
It is bouncing back from upwards it to reach the other side.
Because the market is in a Downtrend, we don't recommend to trade the Upmovement towards the upper Trendline.
We will trade the bearish Bounce from the Trendline.
Let's move to the Entry Timeframe:
Here we see an orange box.
We call it the "Area of Concentration".
We're here waiting for a Trend Reversal Pattern.
This could be the Engulfing Pattern, a Doji-Pattern, etc.
We recommend to trade the pair patiently, because it is a Longterm-Analysis.
Thanks and successful Trading :)!
The market is in a Downtrend.
As always, let's begin with the daily Timeframe:
You can see a descending Wedge (with one bearish Fake out).
Consider the distance between the Trendlines: It is getting tighter and tighter.
Because the market has fallen very much and reached now an Area of neutrality, we expect a consilidation now.
Let's move on to the next Timeframe:
The price is now at the lower Trendline.
It is bouncing back from upwards it to reach the other side.
Because the market is in a Downtrend, we don't recommend to trade the Upmovement towards the upper Trendline.
We will trade the bearish Bounce from the Trendline.
Let's move to the Entry Timeframe:
Here we see an orange box.
We call it the "Area of Concentration".
We're here waiting for a Trend Reversal Pattern.
This could be the Engulfing Pattern, a Doji-Pattern, etc.
We recommend to trade the pair patiently, because it is a Longterm-Analysis.
Thanks and successful Trading :)!
Nota
Here is the RED BOX, but in Big:
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.