Raymondbig-rayOmane

60% LONG 40% SHORT USDCAD - SERIOUS PRICE LEVEL, TAKE NOTE

FX:USDCAD   U.S. Dollar/Canadian Dollar
33 1 0
Description: As shown above we have FX:USDCAD1.83% This pair is currently Bearish , Price Currently At strong price action around 1.2990 , Which is Middle Area On the the Monthly


Indicators:
RSI:Bullish Territory
MA: 20 over 200, If 50 EMA crosses 200 we could see future buying opportunities to the Upside


(WEEKLY)
Price:
- Bullish Channel since 2014 to Present
-Jan 2016, Price tried to break bullish channel and Trend Line resistance, Could Not form Higher Highs so Broke down into Bullish Channel
Fib: Price around 0.236 Region


(DAILY)
Candles
- Many Retests on Daily 200, Failure to close above
-Current candle: Bullish Engulfing

Structure
M Supp 1,26561 (Formed Double Bottom before Bullish Engulfing)
-Trend Line Support Cannot be broken Also after Previous Tests

Duration: Long Term

Decision: I will LONG this Pair,
HOWEVER, Because we are at Strong Price Action I will Put a SHORT Position Too!

LONG: If Next Daily Candle Is bullish , Breaks 200 EMA , Breaks( W Res 1.30967) And (M Res 1.31421), I will take a Long Position to the Top of Monthly Trend Line Resistance (See Monthly)

SHORT: If the 2 Previous Rejections on 200 EMA Cause Next daily candle to become Bearish . I will wait for (W Supp 1.27492) & And (M Supp 1.26561) To be broken and Retested. Also Trend Line channel Support will Break at this stage Meaning I will Take a Short Position to Next level Support

Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.

Remember to always trade your strategy
stream
5 months ago
no way for up .. i mean above 1.31 ..
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out