USDCAD Daily Long Term Thoughts.
Here is some simple analysis for the USDCAD Daily.
These blue levels are some ''Obvious'' levels that could cause a bit of fluctuation in price and therefore some LTF Setups.
I will pay close attention to these levels purely for their significance on the daily chart, These levels could be possible for stophunting or give setups in terms of reversals but especially continuation, If price manages to move down for a while and nearing the lower blue zones i will watch closely for these levels to have not a single reaction, as for the way i trade i can find very likely continuation setups based on the fact if price does NOT react upon FTB.
These white levels are just there for myself, as i expect these levels very able to whiplash price around, Only in very fortunate PA i will maybe look for setups on the LTF in these white zones, but probably wont trade these.
However there is a small little side note with the bottom white zone, There is a blue zone on a very ''Obvious'' level very close above the white zone, Again i will have to see how price develops but there is the possibility of some manipulation here, What exactly am i talking about? Read this:
1. Blue zone gets hit = Initial Buyers pulled in (Maybe some PA to lure in more buyers)
2. If and when blue zone gets broken = Buyers most likely stopped out aswell as Breakout shorts joining the party, could make some false retests aswell to lure as many sellers as possible.
3. Price has lured in the shorts and continues to rally upwards very strongly to also stop out short orders, I expect this to be a strong and powerful upmove purely for the fact that big bullish candles scare short traders to re-enter, and makes possible buyers stay out because it plainly scares them.
4. Long story short i am expecting a bit of ''Market manipulation'' in and between the blue/white levels at the bottom of my chart.
The results of these zones will show over time, still a long way away until we will get close to hitting all levels, if at all!
Until then, trade with caution and ofcourse always go full margin on scalps boys and girls.
(Seriously dont go Full margin though)
These blue levels are some ''Obvious'' levels that could cause a bit of fluctuation in price and therefore some LTF Setups.
I will pay close attention to these levels purely for their significance on the daily chart, These levels could be possible for stophunting or give setups in terms of reversals but especially continuation, If price manages to move down for a while and nearing the lower blue zones i will watch closely for these levels to have not a single reaction, as for the way i trade i can find very likely continuation setups based on the fact if price does NOT react upon FTB.
These white levels are just there for myself, as i expect these levels very able to whiplash price around, Only in very fortunate PA i will maybe look for setups on the LTF in these white zones, but probably wont trade these.
However there is a small little side note with the bottom white zone, There is a blue zone on a very ''Obvious'' level very close above the white zone, Again i will have to see how price develops but there is the possibility of some manipulation here, What exactly am i talking about? Read this:
1. Blue zone gets hit = Initial Buyers pulled in (Maybe some PA to lure in more buyers)
2. If and when blue zone gets broken = Buyers most likely stopped out aswell as Breakout shorts joining the party, could make some false retests aswell to lure as many sellers as possible.
3. Price has lured in the shorts and continues to rally upwards very strongly to also stop out short orders, I expect this to be a strong and powerful upmove purely for the fact that big bullish candles scare short traders to re-enter, and makes possible buyers stay out because it plainly scares them.
4. Long story short i am expecting a bit of ''Market manipulation'' in and between the blue/white levels at the bottom of my chart.
The results of these zones will show over time, still a long way away until we will get close to hitting all levels, if at all!
Until then, trade with caution and ofcourse always go full margin on scalps boys and girls.
(Seriously dont go Full margin though)
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