October 16, 2024
I analyze the USDCAD currency pair, focusing on the challenges of trading on lower time frames and identifying trends. Using a daily chart, I highlight how volatile price movements make it difficult for traders to determine a clear direction. As we move to the weekly and monthly charts, the trends become more defined, showing the importance of focusing on longer time frames to avoid being misled by short-term fluctuations. Ultimately, traders should prioritize longer-term trends for better success, rather than getting caught up in daily price movements and headlines.
