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
http://www.TradeEmpowered.com



Voted 4th Most Helpful Trader on Twitter &
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My prediction 2 months ago :)
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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
Nice
Reply
Fieldgate johnmad
I like that 1.3850ish area. Resonates nicely with a 2.24AB on that daily butterfly too.
Oil is key
Reply
Gift me 1.48 and I will cream.
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marcus123 IndonesiaBankTrader
nice target but what the logic behind the target level pls?
Reply
Akil: Take the eye test from TraderDoc:http://www.stockmarketstore.com/pivotstrendlines.html
+1 Reply
Akil_Stokes PRO RobertHerdman
Thanks but no thanks, i already have an eye test set up with my doctors at home
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