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USDCAD

by Matthew B, September 7, 2021

USD/CAD H4 SUPPLY LEVEL

by Matthew Bond September 7, 2021

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USD/CAD

|

Short

|

H4

Timeframe:

H4

Analysis Method:

SUPPLY LEVEL

Analysis:

MISSED THE BUY ENTRY, CANCELLED ORDERS. NOW LOOKING FOR A SHORT TO TAKE BACK DOWN TO DEMAND.

WANT TO SEE PRICE START TO SLOW DOWN, I WANT A GOOD REACTION TO THE DOWNSIDE, A BREAK OF STRUCTURE AND THEN ENTRY ON THE RETEST.

Trade Plan:

SUPPLY/DEMAND NAKED TRADING

Risk Management:

RISK – 0.25% / TARGET 0.75-1.00%

Things To Watch For:

CAD PMI (WEDNESDAY)

POTENTIAL SUPPLY LEVEL CICLED IN RED BELOW MY ZONE.

IF PRICE TRADES THROUGH THE LEVEL WITH NO GOOD REACTION FOR BREAK TO THE DOWNSIDE THE TRADE BECOMES INVALID.

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