Long

USDCAD - Bullish Countertrend Opportunity (Relief not Reversal)

USDCAD was our big winner from last week & now I'm looking for a potential move in the opposite direction as we approach a key level of structure on the higher timeframes. This is a countertrend opportunity which means I'm NOT looking for a full reversal, rather only an opportunity to catch some relief back to the previous level of structure support.

Currently the market has given us tweezer bottoms which is a good sign for a potential hold, a higher high, higher close would be enough for me at this level to signal a buy (assuming the risk to reward ratio makes sense).

*Not noted, but one of our live room members has been sharing with us his Inside Bar strategy (inside bars are noted with yellow triangles) this would already have been an aggressive entry for him)

Akil

Akil_Stokes

Next Training Event - August 28th
training.tieronetrading.com/30-min-training-page1753450307487

Podcast
anchor.fm/thetradingcoachpodcast

Free Computer Guide
tradingcomputerbuyersguide.com/optin-629312741738938873920

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Akil_Stokes

Also on: