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USDCAD 240 Chart analysis

Wednesday, October 26, 2016 22:15
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Hello traders welcome to another possible trade plan. We are looking at a 4 hour chart of the USDCAD. So i feel this is all about the oil situation and a little with the dollar being strong. I have to say I am liking that we are at resistance and it has retested this area four times. I am looking for a set of weakening candles to show me that the bulls are running out of steam. Once I see that and price action heading down I will enter the short trade as this trade I expect to be in this trade for about a week to give this room to work. I am looking to take profit at the 200 ema at the price zone of 1.3189 for some nice profits…

Thank you traders and we will talk soon……William


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