USDCAD Analysis Nov 28, 2021
We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we are overextended after a large bullish push last week. We are retesting the 1.2800 resistance level and I am expecting reversal from here.
On the H4 timeframe we are seeing that the last few candles closed as reversal signals. I will look for a lower timeframe break of structure before getting short on this pair.
On the weekly timeframe we are overextended after a large bullish push last week. We are retesting the 1.2800 resistance level and I am expecting reversal from here.
On the H4 timeframe we are seeing that the last few candles closed as reversal signals. I will look for a lower timeframe break of structure before getting short on this pair.