As we can see on the 1D chart, the USDCAD price is struggling to move up, this kind of price behavior called “Compression”.
the price moves up step by step in a way that looks powerless, many Small candles, everything seems pressed.
above us, there is a great supply which most probably holds many unfilled orders, which indicates a strong level.
the combination of a price move up by Compression and a supply level creates a great opportunity for sell position.
when the price touches the supply above it’s the time to sell.
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