USDCAD live chart trading
Hi traders, I am going to be experimenting USDCAD trading strategies here, and explaining my findings. if this is something that interests you, feel free to contribute.
Rules
1. No rude comments
2. Your explanations should be accompanied with a screenshot of a chart
3. No fancy buzzwords that have no meaning
4. please answer questions in a clear and concise manner, not everyone is an expert
USD/CAD price has been falling on all timeframes, because Canada is seeking to capitalize on higher oil prices caused by the Iran conflict, with producers in Alberta and Eastern refineries like Irving Oil positioning themselves as reliable suppliers amidst supply shortages. The conflict has disrupted Middle East trade routes, driving up demand for non-Gulf energy
The NY session has started by 1 pm UTC+1 but before it started I marked out the Pre-NY auction range from 12 - 1 pm and boxed it into a black box. I then waited for price to breakout of the upper part of the box and start reversing back into it which created a bearish engulfing and it was my sell signal. I took a short trade after that with SL above the sell signal.
