Why I Think USDCAD Will Sell...Technical Analysis
Hey Rich Friends,
Happy Tuesday. I wanted to share my technical analysis on why I think USDCAD will sell. Remember to cross-check the indicators you have on your chart and check the news.
- The candes have already rejected a previous supply zone
- The 10 EMA (purple) has crossed above the 3 EMA (Blue) and this is a strong sell confirmation for me
- The stochastic is facing down, the slow line (orange) is above the fast line (blue) and both lines are below 50
I would set my sell limits in the red-shaded area and use the green-shaded area for my TPs. Stop loss should be set above a previous high.
Great luck if you decide to take this trade.
Peace and Profits,
Cha
Happy Tuesday. I wanted to share my technical analysis on why I think USDCAD will sell. Remember to cross-check the indicators you have on your chart and check the news.
- The candes have already rejected a previous supply zone
- The 10 EMA (purple) has crossed above the 3 EMA (Blue) and this is a strong sell confirmation for me
- The stochastic is facing down, the slow line (orange) is above the fast line (blue) and both lines are below 50
I would set my sell limits in the red-shaded area and use the green-shaded area for my TPs. Stop loss should be set above a previous high.
Great luck if you decide to take this trade.
Peace and Profits,
Cha
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.