USDCAD: Sitting at a Decision Point

22 Sep 2016

After holding higher timerframe resistance the USDCAD has made 220+ pip move to the downside and has now found previous structure support.

I like to call this area a "decision point" when doing my analysis because a few trading opportunities are offered at this level depending on how price reacts.

1) IF support holds THEN we have a potential buying opportunity.

2) IF support fails THEN we have a potential selling opportunity as it turns to resistance

2) IF Support holds and retraces back towards the 1.3130's level THEN we also have a potential selling opportunity

These are the type of pairs that I put at the very top of my watch list as potential opportunities are right around the corner

22 Sep 2016

Nota

Eyes locked, looking for a potential short (option 2)

22 Sep 2016

Nota

Option (1st) 2...I just saw that I post multiple "2)'s"

22 Sep 2016

Nota

Stalking the 5 Range Bar Chart for entries. Currently looking at 1.3034's to get short

23 Sep 2016

Nota

Negative Canadian news this morning has pushed the USDCAD up to our Killzone. Still looking for entry reasons to get short