#MarketBreakdown
Indecision Ӏ USDCAD
Daily
USDCAD bounced nicely with a
bullish engulfing candle once it reached a strong
falling trend line.
However, bulls face a strong
horizontal daily resistance at the moment.
4H
Daily horizontal resistance matches with a
falling trend line on 4H.
A falling 4H trend line and daily horizontal resistance form a
local supply zone.
To catch a bullish movement,
wait for a
bullish breakout of the supply area.
That will trigger a
bullish continuation.
To catch a bearish move,
wait for a
bearish breakout of the supply area.
Then the price will most likely drop.
