🚨 USDCAD About to Explode Higher?! Massive Bullish Wave Loading Near Key Demand Zone!
Looking for #USDCAD Longs? Price has formed two PCPs (Potential Continuation Patterns), but we will be looking at the most recent one, where we might see another bullish price action wave up to the opposing area of the MN Supply level.
We have been updating this pair for a very long time now, ever since price was testing the 1.36 multiple level, which is nested inside the MN Main Demand Level around 1.35. This zone has remained the key area of interest throughout our previous breakdowns on USDCAD, and it continues to hold significance for the current setup.
What We're Watching Right Now
So the plan is simple: wait for the correction to be completed on the WK (Weekly) time frame. Price needs to finish this corrective move before the next leg up can develop. Patience here is key, as chasing price before the correction fully plays out could lead to an early or poorly timed entry.
Once price comes back up and tests the new PCP area around 1.40, that will be the moment to go and find your entry on a lower time frame — probably H4 or D1 — to go for day trade longs. The target for this move is the opposing area of the MN Supply level, which lines up with the broader structure shown on the weekly chart.
Breaking It Down Step by Step
- Two PCPs formed: Price has printed two Potential Continuation Patterns, but our focus stays on the most recent one for the next expected move.
- Bullish wave expected: The most recent PCP could send another bullish price action wave up toward the opposing MN Supply zone.
- Historical context: This pair has been on our radar for a long time, particularly around the 1.36 multiple level sitting inside the MN Main Demand Level near 1.35.
- Wait for confirmation: The correction on the Weekly time frame needs to be completed first before considering any entries.
- Entry zone: Once price tests the new PCP area around 1.40, that's where the entry time frame comes into play — H4 or D1 for day trade longs.
- Target: The move is expected to extend up to the opposing area of the MN Supply level.
My Personal Trade on USDCAD
Here is my own personal trade taken on this exact setup, on the same pair discussed above, showing the buy orders that were filled as price moved in the expected direction:
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