I am taking a long trade on USDCAD. Price has fallen to a trendline which has been acting as a support. Candlesticks price action on the 4HR gives a reversal signal for a buy.
Also, on hourly timeframe, market condition is oversold. At the 4HR, the 200EMA is acting as a dynamic support level. This is a good confluence with the trendline.
I am a bit ambivalent on this trade setup; if sellers push the price below the trendline, it’s a selling opportunity
Also, on hourly timeframe, market condition is oversold. At the 4HR, the 200EMA is acting as a dynamic support level. This is a good confluence with the trendline.
I am a bit ambivalent on this trade setup; if sellers push the price below the trendline, it’s a selling opportunity