On FX:USDCAD, the price is in consolidation zone last few weeks. This gives us an opportunity for a nice set-up. Potential Gartley pattern appears in this sideways markets, which guides to manage this trade's SL, TP, and Entry point.
Price respects the support level at 1.3179 and it is more likely that the price would not break that level. Thus, it is wise to put the SL below it. P.S This set-up is based on 100% technical analysis; Be extra cautious later today due to fundaments, USD and CAD news coming and price can become volatile that time. T1 - 38.2% T2 - 61.8% ---------------------------------------------------------------------------------------------------------------------------------------------- From now, Traders have an opportunity to directly copy and have access to ALL my Live trades. View my Live Account Profit curve. At traders’ tab search for – ‘Disciplined Trader1’ and Follow. By following my account, your trades will be managed professionally (Entry, Exit, TP, SL etc).
Yes, Bears got control after USD & CAD news. I dont expect much movement on Asia season; When London opens, it may retrace back, as traders who sold earlier today, decide to take their profits, which cause to price start go up.
Art_of_Trading
⋅
also, new buyers may come, as it is on support zone (psychological level) and they will see it a good opportunity to go long.
KVE
⋅
I agree, consolidation now, the up move ended, sideways movement now, maybe a possible triangle... Doesn't look like we'll be seeing too much movement before the London open. The same happened with GBPUSD yesterday and this morning.
Since we're not that far from the low now I think we will be seeing some stop chasing during the Asia session, might be a good opportunity to buy lower for a possible retracement up! Always nice to buy close to the bottom... :-)
KVE
⋅
This pair fell hard today, I'm in long now for a possible retracement!