FX:USDCAD   U.S. Dollar/Canadian Dollar
Reasons For

-We are now down trending on the 4 hour chart
-We always want to trade in the direction of the trend
-We are making lower lows and lower highs
-We are trading below key level at 1.4000 Which we broke with a strong downside move
-If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level
-Sign of retrace Over ?
-We have put in two dojis in on the 4 hour time frame
-We have also come to our trend line that is acting as Res and also showing signs of bullish weakness

So if we put all those together on the 4 Hour time frame we are extremely bearish

If we look at the daily
-We are also making new lows and currently in a new forming down trend
The trend is your friend
-The biggest confluence for me is we have broken the previous higher low on the daily when the uptrend was in affect we have come lower then the previous higher low Which also signifies a change of trend and direction
-So after all the bullishness over the past couple years isit over ?
well for now we are in full affect to make a new lower low in this current trend which is at 1.3500

Heads up
Remember guys this pair is heavily influenced by Oil             so it is a more risky pair to trade but in terms of technicals it is a great setup :)

Also my entry is very aggressive id recommend waiting for a strong bearish candle on the 4 Hour time frame to confirm more confluence and be a strong selling setup as it confirms our momentum which is bearish So id Recommend waiting but if your a risk taker like me join me lol ;)

Only 65 pips Risk well worth the risk with a great Risk Reward of 1:6 :)

Trade safe
My entry 1.38897
Trade closed: stop reached: Really shocked that this one hit stop loss
but i am still bearish so i will be waiting for a rejection from 1.4000
Trade closed: target reached: anyways a really small loss of 65 Pips
both on the same level ! nice one
+1 Reply
ARFXC ForexMillionairez
Yessir !
lets see what happens :)
Already in the trade. This looks like a very solid trade. thanks
+1 Reply
ARFXC forexmech
Thankyou i agree nice setup
Good job
+1 Reply
Thank you again , im in :)
+1 Reply
ARFXC Fx.Master
Thanks all the best hope it plays out for us :)
Great setup lets hope it goes all the way to Tp
+1 Reply
Agree with your setup
Love the detailed Analysis thanks
+1 Reply
Already in this trade
just add confirmation to see you also enter the same pair in the same direction for nearly the same reasons
Confidence boost !!! :)
keep up the good work
+1 Reply
ARFXC TradingFX1234
and thankyou i shall continue
+1 Reply
ARFXC wen_325
Great setup, I've jumped in aggressively also I trust your signals, setups and judgement
+1 Reply
ARFXC LeviEvans
Thankyou :)
Risk taker ;)
Good set up as always with great risk reward!
+1 Reply
ARFXC JahedHussain1103
Risk reward key in Trading :)
yeah, m in love with the details in your analysis too. thanks for this 1 too lets wait to be paid......
+1 Reply
ARFXC ThabaniMjoli
Details key
Hope some people can learn and take some small education from my analysis :)
Nothing but profits since ive joined you i hope it stays this way
Thank you for your hard work keep it up
+1 Reply
well done
ive been saw it hahaa usd cad is a sell all day almost everyday and its been a sell ever since that big abcd on the weekly. been killin it on this pair!
nice chart
Excellent setup!
Trading made easy as usual!
Can see this dropping nicely! Great setup
hmmm looks not so good right now....
that's too soon. a rejection at 1.400 will be more like it. there is also a falling trendily to consider
+1 Reply
I agree with you. I have this setup
USDCAD - a shift in trend ?

PS : it seems the author's setup hit the stop loss.
+1 Reply
Excellent analysis!
+1 Reply
Stay short mate, at around 1.40 region, your SL is alittle too close for comfort. Cheers!
+1 Reply
Yes i agree im still very bearish justs going to wait
+1 Reply
Will you update this chart when it goes down?
exactly! even I was waiting the price to break (fib level 0.5) .. but unfortunately went towards up! :(
I think you are right, though your SL does not make any sense
Unlucky with this one earlier onto the next!!
Shame this one hit stop. Looking to re enter on this one soon, analysis seemed correct think we just got in that little bit too early...
doesnt' matter whether the loss is 65 pips or 100 pips. if you are using 2% risk per trade, it should be 2 % always. coz your lotsize is different when you stop loss is different
+1 Reply
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