USDCAD MARKET ANALYSIS
Good afternoon traders, it's a great Thursday where we've had 2 previous profitable trades and now onto another one (inserts DJ Khaled's voice). Into the markets today, I'm looking at USDCAD where price rallied into a key H1 & H4 supply zone at 1.33772 & 1.33318 which is the origin of the previous major drop to the key H4 demand zone at 1.31305 & 1.30997. Price has filled the major H1 & H4 range from the key H1 & H4 supply zone to the key H4 demand zone and back to the key H1 & H4 supply zone. Price rallied into the key H1 & H4 supply zone and formed candle closes inside supply on H1 & H4. I anticipate a potential bearish reversal to take shorts. Took sell positions during pre-NY session at 1.33738 with SL at 1.34030 as price missed my pending sell limit orders at 1.33780. Setup taken is a rally base drop, a reversal setup.
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