Why I Think USDCAD Will Sell...Technical Analysis
Updated
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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