Hello Traders,
USDCAD just traded into the daily demand order block and the expectation is that price should continue its bullishness. The expected rally is to take out near-term buy-side liquidity and hunt the weekly buy-side liquidity.
I say this is dicey because the dollar is at a level where a shift from bullish to bearish can happen, but my speculation is that the dollar index still has some bullish steam left in it to continue the rally hence USDCAD rallies.
I will be monitoring this pair to see a CHOCH on the 1-hour timeframe as well as the dollar index before taking any trade.
Follow me for more updates like this.
Cheers,
Jabari
USDCAD just traded into the daily demand order block and the expectation is that price should continue its bullishness. The expected rally is to take out near-term buy-side liquidity and hunt the weekly buy-side liquidity.
I say this is dicey because the dollar is at a level where a shift from bullish to bearish can happen, but my speculation is that the dollar index still has some bullish steam left in it to continue the rally hence USDCAD rallies.
I will be monitoring this pair to see a CHOCH on the 1-hour timeframe as well as the dollar index before taking any trade.
Follow me for more updates like this.
Cheers,
Jabari
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.