H1 USDCAD from continuation 3-5 April 2020. We detected a possible pattern.
The pattern is developing into a nice pattern. We are on the right side, but we did not take any trades. We are waiting for a Quality Trades
As market open by 6 April 2020, we did see the pattern still developing into our suggested movement. We are now waiting for a good sell. In fact, price already move due to some Absorption.Please refer FMIND on below chart
FMIND can explain the Absorption that happened. FMIND already detect a small Absorption, that is among the reason why price move around 60 pips!
Based on BOOKMAP XRAY, we did see a bulk of limit order for CAD. It is a buy limit around 1099lot! Our early assumption, price may go here as the price is being advertise. We don’t know what is the intention of the big player/institution etc, please be very cautious.