USDCAD Bullish Price Action, Wait For Buys

Feb 22, 2023

Hello traders:

Looking at USDCAD here on the higher time frame, I cant help but point out the bullish price action in nature.
The overall structure looks clean from the bullish move up, and a larger correction, with multiple swing highs and lows, forming the correctional structure you see right now.

From last year, during September 2022, we see a strong bullish impulse phase on the mid time frame, validates my forecast from the beginning of the year.

After the impulse phase, we can see a consolidation begin to form, and price is correcting for the next possible continuation up move.

What we can wait for is on the lower time frame development to confirm the next up move.
I would wait for some clean bullish continuation correction to form and complete, before consider entry.


Thank you

Mar 7, 2023

Note

bullish continuation confirmed
price impulse higher