Fxprotrader
Long

USDCAD@ One More Rally Before Massive Drop

FX:USDCAD   U.S. Dollar/Canadian Dollar
263 5 12
Looking at the monthly chart i truly believe that usdcad             uptrend comes to an end. Looking at the daily we can clearly see an uptrend with price having already 3 elliott waves . Price is now testing a key support level and if we don't witness a breakout we can say that we have and wave 4 completed.

In the 4h chart we see a RSI divergence we is a sign that price will reverse. A nice way to trade this setup is to wait for a bullish harmonic pattern to form in the lower timeframes. Stoploss and profit targets as shoen in the chart.

RSI divergence:

snapshot
Trade closed: target reached: First target reached, move stoploss to breakeven in the second one.
Website: http://clivityfx.com/
FREE Trading Channel: https://t.me/clivityfx/
thank so much
Reply
Fxprotrader PRO ChatchaiVong
You are welcome mate.
Reply
IvanLabrie PRO Fxprotrader
Things change rapidly.
I took the last swing today.
Nice work mate.
Reply
Not a good day today Ivan.. I was expecting USD to retrace, but i left this trade open though. We llok ahead now..! Have a nice weekend..
Reply
Yes, was looking at the same.
Max support there. The next one is the high volume node below it. 1.25
If this holds we might see a relief rally.
I don't think the wave count is valid though, but the message is coherent. The targets look optimistic for dollar, it's very weak overall.
+1 Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out