USD/CAD Zone Deleted

in LeoFinance •  16 days ago 

Direct from the desk of Dane Williams.

After USD/CAD's explosive move higher thanks to Corona and the shenanigans of the Saudi's interfering with the Oil market, the pair has been relatively quiet.

We'd spoken about one USD/CAD daily support/resistance zone, but with a few weeks of chopping u and down through it, I think it's time to move on.

Goodbye zone!

USD/CAD Daily:

Ah, it feels good to clear a messy chart and start fresh.

Support/resistance zones are dynamic beasts and the fresh price action always trumps what happened further back.

If the zone isn't being respected, then wait for a new clear zone to form before trading around it.

The whole point of using these higher time frame zones, is to have areas to manage our risk around.

If they're not being respected, then they're useless to trade around and therefore it's time to move on.

I'm not just OCD... I swear.

Best of probabilities to you,


Higher time frame market analysis.

Posted Using LeoFinance

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @forexbrokr! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You got more than 1250 replies. Your next target is to reach 1500 replies.

You can view your badges on your board and compare to others on the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Support the HiveBuzz project. Vote for our proposal!

What a buzz.

Posted Using LeoFinance

Great to see you engaging so actively with the community @forexbrokr! Hive on and stay safe!
cheers, lizanomadsoul from hivebuzz team