After an impulsive week on this pair we still believe that the USDCAD is bullish,
based on the analysis we have seen the pair created a left shoulder and its on its way to
creating a right shoulder ,
the right shoulder should be completed on the support area and that falls in line with the Fibonacci retracement 61.8%.
I will only take the trade if i see a candlestick rejection of the support area alongside other confirmations.
Confirmations would be :
1 - Rejection of the support area
2 - Right shoulder complete to for ma head and shoulder pattern.
3 - Rejection of the fib level 61.8% - 78.6% (the support area is between those levels)
4 - Candlestick rejection (Pinbar or a doji)
based on the analysis we have seen the pair created a left shoulder and its on its way to
creating a right shoulder ,
the right shoulder should be completed on the support area and that falls in line with the Fibonacci retracement 61.8%.
I will only take the trade if i see a candlestick rejection of the support area alongside other confirmations.
Confirmations would be :
1 - Rejection of the support area
2 - Right shoulder complete to for ma head and shoulder pattern.
3 - Rejection of the fib level 61.8% - 78.6% (the support area is between those levels)
4 - Candlestick rejection (Pinbar or a doji)
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.