28/12/2019
The above chart is USDCAD on the 2HR.
For the last couple of weeks we’ve consolidated between 1.332 and 1.326, so any strong bearish close out of this region would mean to open positions in the same direction, however from what I see it looks like we’re coming into an opportunity.
We have broken out of the ascending trendline and retested 1.326 for a 4th time, so it will be very crucial how USDCAD can react around this level.
If we see strong bearish momentum breaking out of the support zone, I will initiate a short position.
UPDATE / RESULT // Target Zone Hit.
