USDCAD - If there is a breakout, than a Trend-Continuation too!
Hi Traders!
The market is in an uptrend.
As you can see it is moving inside a channel.
The market was moving up and down in the channel,
but then it broke out upwards and was using the upper channel line as
a lower trendline.
A certain time later, the market broke in again and is now at the lower line
of the channel.
The next Resistance is the blue line at 1.32644.
The market has good chances to break this level, because it is in a retracement move of an uptrend.
If the market breaks out of the upper trendline, it has good chances to move up until the next trendline.
We recommend to buy the market if it breaks the Resistance.
Thanks and good luck :)!
PS: How did you like the information panel at the bottom right?
Leave a comment!
The market is in an uptrend.
As you can see it is moving inside a channel.
The market was moving up and down in the channel,
but then it broke out upwards and was using the upper channel line as
a lower trendline.
A certain time later, the market broke in again and is now at the lower line
of the channel.
The next Resistance is the blue line at 1.32644.
The market has good chances to break this level, because it is in a retracement move of an uptrend.
If the market breaks out of the upper trendline, it has good chances to move up until the next trendline.
We recommend to buy the market if it breaks the Resistance.
Thanks and good luck :)!
PS: How did you like the information panel at the bottom right?
Leave a comment!
Trade closed: stop reached
Hey Followers!Unfortunately, this trade was a losing trade.
BUT if you look closely to this situation, you can see that it broke out of the lower trendline of the channel.
Will it fall further, what do you think?
Have a nice day :)!
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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.
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.