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


Nice one Akil I was looking into this similar way but only drop atm we will see whats next
+1 Reply
that's baad brother
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Akil_Stokes PRO hindbarnaoui
What's bad?
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hindbarnaoui Akil_Stokes
there is no correction , it's just going up and i have some sell positions , the canadian is soo weaak
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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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marcus123 RobertHerdman
Is this a cryptic message?
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Akil_Stokes PRO RobertHerdman
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
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Moltenmetal Akil_Stokes
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 PRO Moltenmetal
I love your last sentence. "Everyone has their own style of analysis"
+1 Reply
marcus123 IndonesiaBankTrader
nice target but what the logic behind the target level pls?
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Gift me 1.48 and I will cream.
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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
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Fieldgate johnmad
I like that 1.3850ish area. Resonates nicely with a 2.24AB on that daily butterfly too.
Oil is key
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My prediction 2 months ago :)
USDCAD buy end of the week or begin next week.
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