USDCAD might go down and rise up. (RTM and Fibonacci Tools)
This Idea came from using The Demand Supply Zones and RTM *Reasons Below*
Information in this trading Idea
- In Daily TF USDCAD from the Flag Pattern to the Up-side.
- The recent supply zone can't push the price down because it's reaching its minor resistance and the price doesn't make the higher high position.
- The information above is a sign of the Bull's weakness.
Entering strategy
- Prices might reach the lower demand to gain the strength to push the prices higher to continue the trend.
- Using Demand as a Bias for Buy. (Continue the Bullish trend) *Wait for confirmation before entry*
- If the prices break the structure to the upside and reach the POI. (Supply Zone + 88.6 Fibo) *Wait for confirmation before entry*
.
*Note: By looking at the previous price high, we can see that the price was reaching its break-even structure and didn't clearly make the higher high position. The supply zone might be the beginning of the downtrend. If it's breaking its recent low price in higher TF.
Information in this trading Idea
- In Daily TF USDCAD from the Flag Pattern to the Up-side.
- The recent supply zone can't push the price down because it's reaching its minor resistance and the price doesn't make the higher high position.
- The information above is a sign of the Bull's weakness.
Entering strategy
- Prices might reach the lower demand to gain the strength to push the prices higher to continue the trend.
- Using Demand as a Bias for Buy. (Continue the Bullish trend) *Wait for confirmation before entry*
- If the prices break the structure to the upside and reach the POI. (Supply Zone + 88.6 Fibo) *Wait for confirmation before entry*
.
*Note: By looking at the previous price high, we can see that the price was reaching its break-even structure and didn't clearly make the higher high position. The supply zone might be the beginning of the downtrend. If it's breaking its recent low price in higher TF.