USDCAD demand bounceBullish bat = Reversal Demand tap and bounce = Signal Target = Next supply (bat recent high area)Longby Syed-Usman-Ali220
Comprehensive Analysis of the Gartley Harmonic PatternThe Gartley Harmonic Pattern, a cornerstone of harmonic trading, was first introduced by H.M. Gartley in his 1935 book "Profits in the Stock Market." This pattern leverages Fibonacci retracement levels and geometric price formations to identify potential market reversals, providing traders with a strategic edge. __________________________The Bullish Gartley Pattern___________________ Structure: X-A Leg: The initial upward movement. A-B Leg: A retracement of approximately 61.8% of the X-A leg. B-C Leg: An upward move retracing between 38.2% and 88.6% of the A-B leg. C-D Leg: The final downward movement, retracing 78.6% of the X-A leg, marking the pattern completion at point D. Entry Criteria: Entry Point: Enter a long (buy) position at point D, where the price is expected to reverse upward. This is typically the 78.6% Fibonacci retracement level of the X-A leg. Stop-Loss: Placement: Set a stop-loss order slightly below point X to safeguard against unexpected price movements. This minimizes potential losses if the pattern fails. Take Profit: First Target: Place the initial take profit target at point B, the retracement level of the A-B leg. Second Target: Set the second target at point C, the retracement of the B-C leg. Extended Targets: For a portion of the position, consider holding to capture further gains if the price continues to rise. _________________________The Bearish Gartley Pattern_____________________ Structure: X-A Leg: The initial downward movement. A-B Leg: A retracement of approximately 61.8% of the X-A leg. B-C Leg: A downward move retracing between 38.2% and 88.6% of the A-B leg. C-D Leg: The final upward movement, retracing 78.6% of the X-A leg, completing the pattern at point D. Entry Criteria: Entry Point: Enter a short (sell) position at point D, where the price is anticipated to reverse downward. This corresponds to the 78.6% Fibonacci retracement level of the X-A leg. Stop-Loss: Placement: Set a stop-loss order slightly above point X to limit potential losses if the pattern does not play out as expected. Take Profit: First Target: Place the initial take profit target at point B. Second Target: Set the second target at point C. Extended Targets: Consider holding a portion of the position for additional gains if the price continues to decline. _________________________Key Considerations__________________________ Precision: Accurate measurement of Fibonacci levels is critical. Even slight deviations can invalidate the pattern. Confirmation: Utilize additional technical indicators or price action signals to confirm the pattern before initiating a trade. This can include moving averages, trend lines, or oscillators. Risk Management: Adhere to strict risk management practices. This includes setting appropriate stop-loss levels and managing position sizes to protect capital. ____________________________Conclusion______________________________ The Gartley Harmonic Pattern is a sophisticated and reliable tool for identifying potential market reversals. By mastering the intricacies of both the bullish and bearish Gartley patterns, traders can enhance their analytical capabilities and improve trading outcomes. Integrating these patterns with other technical analysis methods and maintaining rigorous risk management protocols is essential for consistent trading success. Incorporating the Gartley pattern into your trading strategy involves practice and diligence. Ensure that you continuously refine your skills in identifying these patterns and executing trades accordingly, always mindful of market conditions and broader economic factors.Educationby trading_jupiter228
Market Analysis: USD/CAD Eyes More GainsMarket Analysis: USD/CAD Eyes More Gains USD/CAD is rising and might aim for a move above the 1.3690 resistance zone. Important Takeaways for USD/CAD Analysis Today USD/CAD is showing positive signs above the 1.3660 support zone. There is a connecting bearish trend line forming with resistance near 1.3690 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair formed a strong support base above the 1.3600 level. The US Dollar started a fresh increase above the 1.3660 resistance against the Canadian Dollar. The pair cleared the 50-hour simple moving average and climbed above 1.3700. Finally, it tested the 1.3735 zone before there was a downside correction. The pair traded below the 1.3700 support zone. There was a move below the 50% Fib retracement level of the upward move from the 1.3615 swing low to the 1.3734 high. It tested the 1.3660 support zone and the 61.8% Fib retracement level of the upward move from the 1.3615 swing low to the 1.3734 high. The pair is again rising above the 1.3675 level. Initial resistance sits near the 1.3690 level and the 50-hour simple moving average. There is also a connecting bearish trend line forming with resistance near 1.3690. A clear upside break above 1.3690 could start another steady increase. The next major resistance is the 1.3735 level. A close above the 1.3735 level might send the pair toward the 1.3800 level. Any more gains could open the doors for a test of the 1.3850 level. Conversely, the pair could start another decline. Initial support is near the 1.3660 level on the same USD/CAD chart. The next major support is near 1.3615. A downside break below the 1.3615 level could push the pair further lower. The next major support is near the 1.3550 support zone, below which the pair might visit 1.3500. Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen116
Usdcad shortDollar weakness 1.4 Mqp Covid highs Lower highs Quad Top formation 2000 pip potential Shortby Master_Traders_MTA113
USDCAD SECOND BUY ZONE Manage SL during news time, intraday trade tp and sl mentioned not a financial adviceLongby ArehmanB112
USD-CAD Long From Support! Buy! Hello,Traders! USD-CAD is going down Now but the pair will soon Hit a strong horizontal Support level of 1.3598 From where we will Be expecting a local Bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals223
Potential bearish drop?USD/CAD has just reacted off the resistance which is a pullback resistance and could potentially drop from this level to our take profit. Entry: 1.3734 Why we like it: There is resistance level which is a pullback resistance that aligns with the 76.4% Fibonacci projection. Stop loss: 1.3762 Why we like it: There a pullback resistance level which aligns with the 100% Fibonacci projection. Take profit: 1.3659 Why we like it: There is an overlap support level which lines up with the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.Shortby VantageMarkets12
USDCAD Analysis Dear traders, USDCAD broke out the down trend channel, by that it activated a sequence for higher targets, and made a correction for the golden fibbo zone. i believe that USDCAD is going long.Longby Hassanberjawi3317
USDCAD Bullish Trading IdeaDisclaimer, these ideas are for my records of what I see in the market after taking a trade. It will help me document the reason of why I took the trade so I can have a track record. And as such, this is not a financial advice. I've noticed that at the monthly timeframe the pair is doing a wyckoff distribution schematic. Then at the weekly timeframe, the pair once more is doing a wyckoff distribution schematic. At the daily timeframe, I've identified a potential area of interest delimited by the fibonacci levels 1, 0.5, and 0 (orange lines). I believe the price is trying to reach that area of interest to get right of the liquidity delimited with the lines that have the $$$ above them. At the 4 hour timeframe, the price appears to want to go higher, potentially giving strenght to my trade idea. Given these findings, I'll be entering a buy position until it reaches the fibonacci levels, then I'll start looking for sells.Longby jask_skullUpdated 1118
✅USD_CAD GROWTH AHEAD|LONG🚀 ✅USD_CAD is trading in an uptrend Along the rising support line Which makes me bullish biased And the pair is about to retest the rising support Thus, a rebound and a move up is expected With the target of retesting the level above at 1.3672 LONG🚀 ✅Like and subscribe to never miss a new idea!✅Longby ProSignalsFx11
USDCAD BUYUSDCAD is currently testing the 4H trend line and 78.6 fibonacci zone which has also been a recent support zone. I'm waiting for a 4H Bullish candle close to go long. Let me know what you think in the comment sectionLongby akumjoel10
USD/CAD Buy Signal: Enter at Strong Support for Potential GainsWe look to Buy at 1.36. This setup is based on the strong support at 1.36 and confirmation through a break above 1.365, indicating bullish momentum. Risk/Reward would be poor to call a buy from current levels without further confirmation. The measured move target is 1.369, which aligns with the 38.2% Fibonacci retracement level, often acting as a resistance point in corrective moves.Longby EleazarahmathUpdated 121218
Confidently Bullish: USD/CAD Thank you to everyone who remains confident in our trades. It's important to remember that not every trade will be a winner—this is part of trading—but with patience and strategy, we will succeed in the long run. I have a solid analysis with new trade signals coming up. USD/CAD BUY ORDER 1.365 - SL: 1.3615 - TP: 1.3700 Our buy entry is at a support level where the price previously bounced back yesterday, it is the 61.8 Fibonacci level Take profit is set at 1.3700, and if it surpasses that, the second take profit is at 1.3730.Longby EleazarahmathUpdated 9
USDCADThis pair is entering in sell zone. I put my first sell order now. If the pair still go up during EUR session I´ll put another one before US opens. Thnks. Blessings. Shortby SGsauragestionUpdated 9
USDCADUSDCAD has-been falling lately until now where it failed to break the previous low,so that might the indication that the market might shift and change direction that is way I shared this setup for us to get a closer look where we will be able to spot our entries from.by Mosetlha8
Falling towards a pullback support, could it bounce from here?USD/CAD is falling towards a support level which is a pullback support and could potentially bounce from this level to our take profit. Entry: 1.3590 Why we like it: There is a pullback support. Stop loss: 1.3563 Why we like it: There is a pullback support level which lines up with the 100% Fibonacci projection. Take profit: 1.3658 Why we like it: There is an overlap resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.Longby VantageMarkets8
USD-CAD Long From The Rising Support! Buy! Hello,Traders! USD-CAD is trading along The rising support and The pair is already making A bullish rebound so I think we will see A further move up Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals118
USD/CAD: Implications of US Treasury Auction ResultsOn Wednesday, the Canadian Dollar experienced a weakening trend across various currency pairs, as the safe-haven appeal of the US Dollar gained traction in the broader market. This decline in the Canadian Dollar's value was notably influenced by subdued bid-to-cover ratios observed in a US Treasury auction held on Tuesday, which contributed to dampened market sentiment as the week progressed, leading to a decrease in risk appetite among investors. From a technical standpoint, the price has initiated a reversal from a previous supply area, signaling a potential bearish continuation trajectory below demand regions. This technical analysis suggests a shift in market dynamics favoring downward movement in the Canadian Dollar's value. The economic calendar for Canada remained relatively quiet on Wednesday, with attention now turning to Thursday's release of the Canadian Current Account data. Market expectations anticipate a decline to -5.5 billion, following a climb to a six-month high of -1.62 billion in the previous quarter. Subsequently, on Friday, investors will await the release of Canadian Q1 Gross Domestic Product figures, which are projected to stabilize at 0.0% month-on-month, compared to the previous reading of 0.2%. These upcoming data releases are likely to further influence trading sentiment surrounding the Canadian Dollar.Shortby FOREXN1Updated 118
USDCAD: Important Key Levels & Structure Analysis 🇺🇸🇨🇦 Here is my latest structure analysis and important key levels to watch on USDCAD. Resistance 1: 1.373 - 1.376 area Resistance 2: 1.377 - 1.380 area Resistance 3: 1.383 - 1.384 area Support 1: 1.359 - 1.360 area Support 2: 1.354 - 1.357 area Support 3: 1.342 - 1.349 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader116
Bullish bounce off 61.8% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot and could potentially bounce to the 1st resistance. Pivot: 1.3644 1st Support: 1.3589 1st Resistance: 1.3735 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.Longby ICmarkets6
UCAD for BULLISHProjected to be continue bullish movement. Trade with your own risk.Longby ewtradersbhUpdated 1111
LONGUSDCAD now, is pulling back after a day mass drop. We expect tomorrow can reach thereby BoaNergeTrading4
USDCAD Will Go Higher From Support! Buy! Here is our detailed technical review for USDCAD. Time Frame: 5h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.362. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.367 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 116