USDCAD: CREATING NEW WEEKLY TREND-BEARISH.

The USDCAD pair rallying to balance the supply-demand and creating a brand new weekly downtrend.

In weekly time frame, the chart printing signals at 1.31870.

At 1.46916, candles formed an impulse and saved the trend from upward. And the signal forms a correction to stabilize the trend. (shown in the graph)

After the correction formation, (1.32049) signal broke the trend with an impulse. (shown in the graph)

By the broke out impulse, the signal hoisting a flag correction and printing the current price action. (shown in the graph)

With the above facts, I’m expecting an impulse to pull the trend down from the current price action.

Due to the flag correction, the candles may form an impulse and correction.

If impulse and correction mean, your take profit should be 1.21864 with 3.29% R/R ratio.

But the candles will form the structure like a thunderbolt. The price range will move to the down and retrieve to the top as correction and again back to down.

In case the price range moving to the resistance means, end the trade at 1.34908.


EYES ON CHART AND DECIDE YOUR TRADE.


SIGNAL SPECIFICATION:

Pair: USDCAD

Order: SELL

Entry: 1.31870

Take profit: 1.21864

Stop loss: 1.34908

Risk Vs Reward: 3.29
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Best
Forextamil
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