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usd cad Price Action . Price is reacting to old supply and demand zones.

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Price Action Forex trading

Usd/cad chart posted here. Price action is quite subdued by filling demand buckets and reacting to upper supply zones and then falling very seriously. Previously stated price is tend to resume or are we seeing a big rally to upwards.

My idea is that we should see the approach first to react to 1.3370-80 zone area & then I’ll update the post for possible target zone if there is new zone created of demand when it breach the recent high. Then we will possibly see that short term rally is eyeing multi month top & we should only look to trade to long opportunities.

But As I said, Its totally on the approach, when price leave that zone and then reaction to reach to upper supply zone created and that fall is very strong and I would possibly recommend shorting around that zone and then target 1.3210 area with stops around 1.3410 area. Offering very good Risk to Reward opportunity in sight.

Usd/cad supply and demand zones clearly marked on the chart


Update on 03rd September 2021

Look at the Chart Above & below. Aren’t they same. IS the price Action clues of rejection from true FTR of the Flag.

There is still room for more rejection & I would surely update the chart in real time, when that opportunity arrives. Stay Short Usd/cad

What do you think?

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