Potential trade idea for USDCAD next week
Last week we saw continuation to the downside. Then a fakeout to break the structure to the downside which corresponded with an explosion to the upside.
What I am looking for now is a correction down to 1.263 to 1.264 area. Depending on price action, I will look for for this area as a potential buy zone to take the price up with another impulse back up to 1.283 area.
But it is good to note, we may see a deeper correction down to 1.26 are or even as low as 1.257 area before we see the price shoot back up, although the 1.264 is the area with the most confluence.
Remember, price action is key and the most important thing to follow as things can change at any moment.
Let me know your thoughts.
Trade Safe!
HEET
What I am looking for now is a correction down to 1.263 to 1.264 area. Depending on price action, I will look for for this area as a potential buy zone to take the price up with another impulse back up to 1.283 area.
But it is good to note, we may see a deeper correction down to 1.26 are or even as low as 1.257 area before we see the price shoot back up, although the 1.264 is the area with the most confluence.
Remember, price action is key and the most important thing to follow as things can change at any moment.
Let me know your thoughts.
Trade Safe!
HEET
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NQ Trader
