When looking at the structure of USDCAD, even with its strong bullish move from last night, it is still maintaining its bearish structure for both LTF & HTF.
It has reached an area where a strong break upwards will break the bearish structure. If that were to happen, I have my idea for trade entry.
More likely we see a rejection to bring the price back into range of the structure. Keep in mind, this is a range of over 100 pips.
I have marked the entire order block as a no trade zone because the price will more likely swing up and down in this area.
I won't consider sells unless the price breaks below this order block.
My bias is bearish although I am looking for trades that follow my ideas either way.
Let me know your thoughts on these trade ideas.
It has reached an area where a strong break upwards will break the bearish structure. If that were to happen, I have my idea for trade entry.
More likely we see a rejection to bring the price back into range of the structure. Keep in mind, this is a range of over 100 pips.
I have marked the entire order block as a no trade zone because the price will more likely swing up and down in this area.
I won't consider sells unless the price breaks below this order block.
My bias is bearish although I am looking for trades that follow my ideas either way.
Let me know your thoughts on these trade ideas.
NQ Trader