Head and shoulders
Short term long trade, counter trend going by the weekly and monthly time frames.
Waiting for the entry to develop roughly where my LONG ENTRY box is. It may not be precisely that location but thats what i'm waiting for.
Its more important to get the area correct rather than the exact turning point.
Watch those 4hr and 1hr charts and the 50 ema's for signs the pair is going long on us. Break and retests of the 50 EMA's as new support would discount the long entry.
Lower time frames suggest timing and the higher time frames give the set up.
Good luck
Short term long trade, counter trend going by the weekly and monthly time frames.
Waiting for the entry to develop roughly where my LONG ENTRY box is. It may not be precisely that location but thats what i'm waiting for.
Its more important to get the area correct rather than the exact turning point.
Watch those 4hr and 1hr charts and the 50 ema's for signs the pair is going long on us. Break and retests of the 50 EMA's as new support would discount the long entry.
Lower time frames suggest timing and the higher time frames give the set up.
Good luck
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keep in mind however that as oil rises generally the CAD rises, currently oil is on the rise.