- According to the most brokers’ data, more than half of the traders are currently in long positions on USDCAD. As a result, we recommend considering only Short trades at this time.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- Set Take Profit at the local low, beyond which there is a cluster of orders.
Chart & Analyst Comments
