USDCAD Possible breakout on weekly chart update shakeout on 4hr
https://www.tradingview.com/chart/USDCAD/RR0j5q5J-USDCAD-Possible-breakout-about-to-happen-on-weekly-chart/
As I got my order filled overnight, first thing in the morning I saw that prices had gone up on low volume which is an anomaly, then price had dropped rapidly forming a very wide spread bar with low volume which is another anomaly. And now prices are moving up on high volume wich is as sign of strength. If the high volume movement lasts to the last swing high we probably will have a breakout. If volume dries up at the swing high and we start to see wide spread candles with high volume, it will probably be best to close the trade.
As I got my order filled overnight, first thing in the morning I saw that prices had gone up on low volume which is an anomaly, then price had dropped rapidly forming a very wide spread bar with low volume which is another anomaly. And now prices are moving up on high volume wich is as sign of strength. If the high volume movement lasts to the last swing high we probably will have a breakout. If volume dries up at the swing high and we start to see wide spread candles with high volume, it will probably be best to close the trade.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.