3rd Times The Ticket! - UCAD
Here I have USD/CAD on the Daily Chart!
Price on UCAD has been Ranging between the Resistance Zone @ ( 1.3880 - 1.3804 ) & Support Zone @ ( 1.3223 - 1.3116 ) since Sept. 2022!!!
Price revisited the Resistance Zone on Apr. 16th-17th and since has created a LOWER LOW with price finding a Minor Support Level @ ( 1.3647 - 1.3616 )
Suspecting Price may be creating a Descending Triangle, I am waiting for price to attempt 1 more High that will be the 3rd Test of the Falling Resistance in which I will be looking for Selling Opportunities down to the Support Zone @ ( 1.3223 - 1.3116 )!
*I have suspected a 2nd Scenario where given the current Bullishness of Price Action since its visit at the Support Zone in late Dec. 2023, if price is unable to Break Below the Minor Support Level, we could see this Falling Resistance turned into Support to then move Higher!
Price on UCAD has been Ranging between the Resistance Zone @ ( 1.3880 - 1.3804 ) & Support Zone @ ( 1.3223 - 1.3116 ) since Sept. 2022!!!
Price revisited the Resistance Zone on Apr. 16th-17th and since has created a LOWER LOW with price finding a Minor Support Level @ ( 1.3647 - 1.3616 )
Suspecting Price may be creating a Descending Triangle, I am waiting for price to attempt 1 more High that will be the 3rd Test of the Falling Resistance in which I will be looking for Selling Opportunities down to the Support Zone @ ( 1.3223 - 1.3116 )!
*I have suspected a 2nd Scenario where given the current Bullishness of Price Action since its visit at the Support Zone in late Dec. 2023, if price is unable to Break Below the Minor Support Level, we could see this Falling Resistance turned into Support to then move Higher!
Handel aktiv:
Took a Buy Entry @ 1.3675
SL @ 1.3650
SL @ 1.3650
Kommentera:
Price tested the Falling Resistance this morning and price now is working back to it!
Looking to take Selling opportunities now!
Looking to take Selling opportunities now!
Kommentera:
Price has broken down through the Support Zone!!
Now we want to see price work back up to test for RESISTANCE!!
Now we want to see price work back up to test for RESISTANCE!!
Kommentera:
Price tested the Support Zone and looks to be holding!!
This Support will be RESISTANCE!!!
Looking for more Sell Opportunities!
This Support will be RESISTANCE!!!
Looking for more Sell Opportunities!
Handel aktiv:
Sell Entry @ 1.3615
SL @ 1.3650
SL @ 1.3650
Kommentera:
Price made a False Break of the Falling Resistance!!
New analysis deems a New Trade Idea!!
Stay Tuned
New analysis deems a New Trade Idea!!
Stay Tuned
Suspecting a rise to the Falling Resistance for a 3rd test!