USDCAD RE-ACCUMULATION
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Last week I thought price would go down and fill the imbalance left but boy was I wrong.
Far from speculation I have concrete evidence that usdcad will not see a new low form coupled up with a very nice narrative for the pair. So here we go:
We saw usdcad complete the accumulation phase after taking out all liquidity below. What follows next in the wycoff cycle is a series of reaccumulations and the first one has just being completed
After showing a sign of strength, the pair closed at a 4HR institutional candle where they have their buy orders. i.e Not expecting price to go below that candle
For a low risk set up I would look for a wycoff accumulation in the lower time frame next week.
Beware of high impact news on wednesday and friday that affect the pair.
A spring is most likely to happen on friday but I would rathher wait for price to show me its hand.
Find previuos analysis atached below,
https://www.tradingview.com/x/eFMAkIcY/
https://www.tradingview.com/chart/USDCAD/XVDjfaBj-USDCAD-BULLISH/
Last week I thought price would go down and fill the imbalance left but boy was I wrong.
Far from speculation I have concrete evidence that usdcad will not see a new low form coupled up with a very nice narrative for the pair. So here we go:
We saw usdcad complete the accumulation phase after taking out all liquidity below. What follows next in the wycoff cycle is a series of reaccumulations and the first one has just being completed
After showing a sign of strength, the pair closed at a 4HR institutional candle where they have their buy orders. i.e Not expecting price to go below that candle
For a low risk set up I would look for a wycoff accumulation in the lower time frame next week.
Beware of high impact news on wednesday and friday that affect the pair.
A spring is most likely to happen on friday but I would rathher wait for price to show me its hand.
Find previuos analysis atached below,
https://www.tradingview.com/x/eFMAkIcY/
https://www.tradingview.com/chart/USDCAD/XVDjfaBj-USDCAD-BULLISH/
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