USD/CAD 27 Nov 2019

There is a shorting opportunity that I'm stalking ..




As you can see We had a reaction from the seller dam .


At the same time we can see buyer castles, highlighted in the picture.So We are currently in the equilibrium.

Fight is going on   between buyers and seller.

So why I'm favoring the seller side.

When I look at the chart I always start making a top down analysis.  I.e I start looking at the bigger picture of the market. So lets have a look at the weekly chart to see what is happening?



This is the weekly picture, we see we have a big seller zone highlighted in purple.  and we are currently inside this zone.  Buyer tried to take over first time, but failed, and now we are  at the 2nd attempt for the buyer to take this zone.


So why I favor the seller side 


I favor the seller side, for many reason such as,
- we have completed 1,2,3 legs up.
- Seller army seems strong.
- Weekly bigger picture, we are in seller zone.



The outcome of the trade. you can check what happens on the USD/ CAD....

Here what happens.....




Good luck and good trading !!



More Update, the drop did not stop  lol.





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