USDCAD – Intraday Pin Bar Off Corrective Lows | Apr 20

Verified Profitable Trader

USDCAD – Intraday Pin Bar Off Corrective Lows (4hr chart)
As we discussed yesterday in our members commentary, ST the USDCAD is bullish while MT being bearish below the key resistance zone (between 1.2360-1.2424).

The pair has been correcting in a small consolidation and formed an intraday pin bar off the corrective lows (showing some bidding interest to hold the ST line there).

I’m expecting an upside attack to head towards 1.2360-90 near term. From here I’m anticipating bears will re-enter the market so you have your line in the sand. Only a daily close above this resistance zone changes my MT bearish bias. ST I’m bullish.

usdcad

Read my latest article on the one mistake in trading you cannot afford to make but already are.

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article