USDCAD Support and Resistance Trading Strategy

STRATEGY: Support & Resistance Trading Strategy

DETAILS
Analysis TF: 4H/1D
Focus TF: 1H
SL: Just above Bearish Engulfing (0.5ATRC on 1H TF)
AOV: Resistance Zone


1D Analysis
MC: Sideways - Price bouncing inside Horizontal Support and Resistance

https://www.tradingview.com/x/zkJAnBXd/


4H Analysis
Price struggles to create a new High, forming a Bearish Engulfing (not yet closed - but it is a high momentum candlestick)

https://www.tradingview.com/x/WtAqg39A/



1H Analysis
ET: Bearish Engulfing - Confirmed Bearish Engulfing occurred on 1H TF.
Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF

https://www.tradingview.com/x/zzm5rsHW/


Will scale in if price bounced on Support or on 10EMA, 83/100EMA or 200EMA at 1H TF
https://www.tradingview.com/x/rZoE3KoU/


Note: This post is my personal journal/opinion only. Please trade at your own risk.

#ExcellentTrade #BearishEngulfing #SupportandResistance #MovingAverage