Massive Top in $USDCAD, Low Risk Short Entry Here
I will quickly publish this chart to show you the long term uptrend in the $USDCAD appears to be over.
The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high.
The long term trendline is broken and the $USDCAD is sitting on a level where a tremendous amount of volume and time has been spent at $1.31. Risk is a move over the 1.335 level to invalidate this setup.
The opportunity is for a drop down to $1.17 where the "least amount of volume" has traded.
More details to follow.
Tim 8:28 AM EST Jan 31, 2017 1.30828 last
The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high.
The long term trendline is broken and the $USDCAD is sitting on a level where a tremendous amount of volume and time has been spent at $1.31. Risk is a move over the 1.335 level to invalidate this setup.
The opportunity is for a drop down to $1.17 where the "least amount of volume" has traded.
More details to follow.
Tim 8:28 AM EST Jan 31, 2017 1.30828 last
Bình luận:
Ideal time here on this counter-trend move up to add to positions: 1.3168 last.
2/8/2017 10:32AM
2/8/2017 10:32AM
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Here's the Equity way to own Canadian Dollar - $FXC