USDCAD Shall we Buy or Shall we Sell [Long term scenaio]
Analysis :
Buy :
/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together.
Thanks.
A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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- Price is in a descending channel,
- Price is on a solid resistance zone,
- Bears are rejected on both [Our resistance zone & the descending channel down bound],
- Daily candlestick close above[Our resistance zone & the descending channel down bound].
Buy :
- Wait Pullback confirmatio,
- Wait for a rejection candle pattern to form e.g. bullish engulfing , pinbar , Insidebar etc,
- Initiate BUY order,
- Targets next resistance zone [~1.38],
- SL under our resistance zone [~1.366],
/!\** Disclaimer**/!\
The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
Traders! | if you like my analysis and it supports you in your trading decisions, please say it in a comment so we can manage the trade together.
Thanks.
A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
***This idea is only for educational purpose. Not a financial advice***
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