USDCAD – Completes False Break Setup | Jun 22

USDCAD – Bounces Higher from False Break (4hr chart)
Completing our false break setup that we’ve discussed prior, the USDCAD pulled back today into the 1.2220 support area where the prior consolidation occurred from the false break. The pair immediately shot higher and attacked 1.2325 which is just below our first resistance zone.

For now the pair faces an interesting test between 1.2325 and 1.2366 which is a pretty stiff resistance zone from recent PA.

Currently I’m neutral with a slight bullish tune ST while above 1.2220. A break back below here targets 1.2125.


Read my latest article on Trade Management & Cutting Losses

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article