Akil_Stokes
Long

USDCAD 240min Still Predicting $1.40's (with Video)

FX:USDCAD   U.S. Dollar/Canadian Dollar
A few days ago I shared an idea looking at the USDCAD             predicting that price action has an opportunity to go as far as $1.40 before hitting any significant resistance. On that post I was looking at 2 levels, a main potential reversal zone and a smaller potential reversal zone in which I had an aggressive reason for entry.

Well, price action just missed my entry by a few pips which means I had to clear orders and wait to see if the market would provide another opportunity. I had some questions about the analysis as well so I decided to discuss it in a trading video (link below) along with my opinion on how to play next week's interest rate decision.

The main potential reversal zone is still on my radar but because we've created a new structure high, I'll also be eyeing up a closer zone between 1.3620's-1.3515's.

Here's the link to the video & if you're not a subscribe of mine on youtube stop missing out & become one

"What To Have Before Taking A Trade" https://www.youtube.com/watch?v=l6Y8X8v76OY

Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com


Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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"Plan Your Trade, Trade Your Plan"




Skikus
a year ago
Nice one Akil I was looking into this similar way but only drop atm we will see whats next
+1 Reply
hindbarnaoui
a year ago
that's baad brother
Reply
Akil_Stokes TOP hindbarnaoui
a year ago
What's bad?
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hindbarnaoui Akil_Stokes
a year ago
there is no correction , it's just going up and i have some sell positions , the canadian is soo weaak
Reply
Akil: Take the eye test from TraderDoc:http://www.stockmarketstore.com/pivotstrendlines.html
+1 Reply
Akil_Stokes TOP RobertHerdman
a year ago
Thanks but no thanks, i already have an eye test set up with my doctors at home
Reply
marcus123 RobertHerdman
a year ago
Is this a cryptic message?
Reply
Akil_Stokes TOP RobertHerdman
a year ago
I don't use trendlines, but the link looked pretty cool for somebody who does. Apologies for my other response, for some reason I didn't see the attached link until now, just thought you were telling me to get my eyes checked
Reply
Moltenmetal Akil_Stokes
a year ago
Interesting you say you don't use trendlines - looking at structure is basically using horizontal trendlines. It is interesting to note just how often higher lows or lower highs respect a diagonal trend line joining the previous points - just like structure on a horizontal line. Still, everyone has their own style of analysis.
+1 Reply
Akil_Stokes TOP Moltenmetal
a year ago
I love your last sentence. "Everyone has their own style of analysis"
+1 Reply
USDCAD

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marcus123 IndonesiaBankTrader
a year ago
nice target but what the logic behind the target level pls?
Reply
Chuck.Aus
a year ago
Gift me 1.48 and I will cream.
Reply
pyramids_Forex
a year ago
snapshot
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johnmad PRO
a year ago
Hey Akil ,
just looking at Harmonics and a Butterfly Pattern on the Daily , i think this Bull run will continue as per my chart .
snapshot
+1 Reply
Akil_Stokes TOP johnmad
a year ago
Nice
Reply
Fieldgate johnmad
a year ago
I like that 1.3850ish area. Resonates nicely with a 2.24AB on that daily butterfly too.
Oil is key
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Yahia.Awes
a year ago
My prediction 2 months ago :)
USDCAD buy end of the week or begin next week.
Reply
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