USDCAD might go down and rise up. (RTM and Fibonacci Tools)

2022年2月10日

This Idea came from using The Demand Supply Zones and RTM *Reasons Below*
Information in this trading Idea
 - In Daily TF USDCAD from the Flag Pattern to the Up-side.
- The recent supply zone can't push the price down because it's reaching its minor resistance and the price doesn't make the higher high position.
- The information above is a sign of the Bull's weakness.
Entering strategy
- Prices might reach the lower demand to gain the strength to push the prices higher to continue the trend.
- Using Demand as a Bias for Buy. (Continue the Bullish trend) *Wait for confirmation before entry*
- If the prices break the structure to the upside and reach the POI. (Supply Zone + 88.6 Fibo) *Wait for confirmation before entry*
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*Note: By looking at the previous price high, we can see that the price was reaching its break-even structure and didn't clearly make the higher high position. The supply zone might be the beginning of the downtrend. If it's breaking its recent low price in higher TF.