USDCAD POTENTIAL SHORT POSITIONS | HEDGE-POSITIONS
Looking at the
#USDCAD on the Daily/Weekly time-frame, currently looking for possible shorting opportunities upon the retest of the recently formed Daily/weekly supply zone, which confluences with the retest of the inner 1hr/4hr supply zones, we will take into consideration the current movement of the
#USOIL and the
#DXY movement as this pair is commodity driven
We will risk accordingly when looking to take possible shorting opportunities as this is a low probability trade , we will also take into account the price to time relationship and also the movement or the strength of the DOLLAR aswel as the USOIL, when looking to take possible scaling in on the current bearish movement , which is intern a hedge positions against the current rally(**MACRO TREND**)
A break above the recently formed yearly high will invalidate any possible shorting opportunities
We will also take into consideration the **DOW THEORY** based on the theory, the market is still considered to be in a bullish trend up until a significant swing low has been liquidated , the market has yet to liquidate any recently formed swing low, will consider the 1.20068 to be a more significant swing low that can lead to a **MACRO CHANGE IN TREND**
On a *MICRO SCALE* we will consider the recently formed swing low formed at 1.35389 to lead to further reduction in the value of the USDCAD , this will then lead to the market reducing in value to the demanded price level in which we will then look to scale in on the bullish movement resulting in the market increasing in value leading to a possible forced liquidation of the Resisting price level of the Fair Value Area
**THIS IS A LOW PROBABILITY TRADE**
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