Trade Idea: USDCAD In Corrective Structure, Trading The Break | Sept 26

Verified Profitable Trader

Chris Capre’s current live open price action & ichimoku trades: AUDNZD, CORN, WTI, USDCHF, USDMXN

New to Forex? Then check out my FREE Learn Forex Trading Course with videos, quizzes and downloadable resources

Want to find unique trading opportunities? Check out my latest trading video on how to find dynamic support & resistance.

USDCAD – ST Corrective Structure After Bull Move, Watching For Break (1hr chart)

Price Action Context

After a solid couple weeks in mid-Sept, the USDCAD has formed a ST corrective structure between 1.3233 and 1.3306 with a few touches on each side. Am watching for a break to give us clues on the next direction, and will look to trade on a break.

USDCAD corrective structure 2ndskiesforex

Trending Analysis

ST neutral while inside the corrective structure, but MT bullish. Break below the CS would change MT view to neutral.

Key Support & Resistance Zones

R: 1.3306, 1.3500

S: 1.3233, 1.3169

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

Related Article