Trader_Blake

USD/CAD Long Idea - Multiple Time Frame Analysis

לונג
OANDA:USDCAD   דולר אמריקאי / דולר קנדי
On the Daily/4hr a Descending Triangle can be seen. Started forming over 2 weeks ago. Well boys and girls, the breakout is near! Long or short? Let's take a look. The current trend is bullish, though a descending triangle is Bilateral, a continuation of the trend is highly likely. Let's go down to the 1hr and see what the lower time frames look like. Right off the bat I see price is making Lower Highs and Lower Lows (a falling wedge) as it pushes further into the wedge. A Bullish Falling Wedge is where the pattern forms from a downtrend, in this case the descending triangle on the daily, and reverses the trend in the opposite direction. Also confirming a long from the descending triangle on the higher time frame. Last but not least I check my RSI and see a Regular Bullish Divergence indicating a reversal as well. I don't have an entry on this one yet, as is can range in the wedge a little more but this is definitely one to watch!
Give me a like or follow for more ideas! Comments and opinions are welcome, always willing to learn.
כתב ויתור

המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.