USDCAD limited by the 200dma & 1.3610 … the week of 16 Sep, 2024
Atualizado
About a month ago, this pair broke below the 1.3610 level and since then has been unable to overcome it despite 7 attempts. The 200 dma has resisted bullish efforts and my bearish bias is also supported by Ichimoku Kinko Hyo.
https://www.tradingview.com/x/y0aKiuTn/
I will be on the lookout for bearish evidence on lower time frames such as H4 and H1, see how such price action relates to the 20 sma before committing to a trade. If, however, a strong move to the up side forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
https://www.tradingview.com/x/y0aKiuTn/
I will be on the lookout for bearish evidence on lower time frames such as H4 and H1, see how such price action relates to the 20 sma before committing to a trade. If, however, a strong move to the up side forms, that would negate my analysis.
This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
If you like my idea, please give a “boost” and follow me to get even more.
Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Nota
Price has moved sideways on day 1 but I still think we are headed lower. Monitoring PA on H1 and H4.Trade ativo
I opened a small position, not much movement either side yet.Trade ativo
In about 6 hours, the US interest rate will be announced. Please protect your trade, extreme volatility could occur.
Aviso legal
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