Hey guys!
This is my forecast for USDCAD. My forecast is concentrating on the third touch on the channel. This gives me a bigger edge for the short position.
I always look for the multitouch identification and little bit of correction to the third makes it also more probable for short. My profit target
is to the lows of the structure so I'm happy to take the trade at the top if I can. If USDCAD starts to make a correction like a flag type pattern,
I'm happy to stay out of the trade because it hasn't made a third touch (multitouch identification) so it makes the trade less probable to play out.
That's my thinking process for the USDCAD.
This is my forecast for USDCAD. My forecast is concentrating on the third touch on the channel. This gives me a bigger edge for the short position.
I always look for the multitouch identification and little bit of correction to the third makes it also more probable for short. My profit target
is to the lows of the structure so I'm happy to take the trade at the top if I can. If USDCAD starts to make a correction like a flag type pattern,
I'm happy to stay out of the trade because it hasn't made a third touch (multitouch identification) so it makes the trade less probable to play out.
That's my thinking process for the USDCAD.