USDCAD (H4) - Wait to Buy(or Sell)!

Oct 25, 2021

• Negative Divergence RSI (Blue line) created a bullish reaction of USDCAD (H4) last weekend.
  
  
• RSI trendline has formed, however the resistance of 60 is still be there.
  
  
• The downtrend is dominant, the uptrend has not really formed.
  
  
• An uptrend will form if the rate approaches the 1.24724-1.24982 resistance level (Fibonacci Extensions [1.618]).
  
  *Therefore, we wait for an uptrend and then find a key point to buy.

Oct 27, 2021

Note

USDCAD fell to an unusual break.
Cancel the trading plan!