tntsunrise
Short

USDCAD WEEKLY AB=CD INSIDE A WEDGE!

FX:USDCAD   U.S. Dollar/Canadian Dollar
2581 27 62
USDCAD             WEEKLY ANALYSIS
This is a Huge Wedge since 2014.
Today the price already touched the upper edge
I am really excited that it's getting closer and closer!

There is an AB=CD Pattern inside the wedge
And the level is: 1.4370!
The 1.618 ext is at 1.4400.
Look closely for the Price action at this level
This might be a great turning point
Get ready to short.
I will keep you guys updated in lower time frame.
once the price is in that zone.
Goold Luck!
Trade active: 1.4370 order filled.
1.4400 pending
Comment: Nice reversal! POWER OF AB=CD
Comment: huge spike to 1.4500 in just 5 mins. get out from this trade first and decide whether to re-enter later.
Join Projack's Student Group:
http://www.harmonicasia.com/index/course.html
Youtube:
https://www.youtube.com/playlist?list=PLN0GYK-_EO5Z3Xzp6Sk1bmfzckpkJ5NCx
FB: https://www.facebook.com/groups/projacksg/
QQ Group: 609224828
I am also watching this and getting ready to short. Nice analysis as usual Mr. TNT!
Reply
Cheers!
Reply
If you zoom out to 2002 you can see that it moved down through this section without much retracement. I would expect minor corrections but otherwise I'm long to 1.6
Reply
Great analysis TNTsunrise,, Thankyou
Reply
Great analysis TNT sunrise..,, Thank you
Reply
you are following this pair since last 6 months and waiting for a good short entry but this pair is making higher high i hope this time it will go into your way
Reply
I will be in on this one too, nice find!
Reply
I have also entered part of my position at 1.435 and have the rest pending at 1.44
Reply
Hi TNT, nice analysis; this pair is also divergent wit MACD, RSI and just about any other oscillator of choice and is certainly due for a correction and/or reversal however with its close correlation with oil and the current bearish sediment in oil my preference is to wait for a retrace after it starts to make lower lows before I look for short opportunities. Right now it is just to bullish to short and to overbought to go long. I can't disagree with your analysis but for me it is the type of trade that makes you want to lose your lunch and if you got the stomach for it can be some of the best returns. Best of luck with your trade and thanks for sharing.
Reply
Thanks for your comments. I will be happy to lose my lunch in this case if it hit my SL. because this is my Trading Plan, I risk a lunch, but I may win a montblank. A plan is a plan, I just trade my plan.
AB=CD plus 1.618 EXT, plus Weekly Wedge, RSI MACD of course is diverngence, I have done my best to draft my plan and I decide to go with it. Now it is already down 20 pips, more to go
+1 Reply
LukaszMosinski tntsunrise
It seems that unfortunatley we lost our lunch.... :/
Reply
if you draw the line 1.4370. u will find that the price goes exactly to that level and can't break through in 1h chart
Reply
gbfx tntsunrise
is it good to enter for sell now, i see it coming down now. thanks
Reply
yes . a pin bar
Reply
yes good analysis :) appreciate it
Reply
What ia the stoploss
Reply
tntsunrise TOP prashantfx
currently i set 1.4555
+1 Reply
prashantfx tntsunrise
okay thnx for reply :-)
Reply
It seems like bulls going to exhaust soon now.. already shorted at 1.4392.. Second order pending at 1.4300 level.. Best of luck guys for this trade as it seems to be a huge opportunity to make money.. RSI all overbought..Oil future going to end shortly..
Just waiting for nice reversal :-)
Reply
what a rally in dis pair today almost 200 pips up
Reply
tntsunrise TOP prashantfx
tha's crazy. and oil did not drop too much. a lot of breakout limit order was triggered i think.
Reply
prashantfx tntsunrise
yeah you are right ...
Reply
i think it's batter to stay away from all CAD pair for few day's and wait for strong reversal signal....
Reply
tntsunrise TOP prashantfx
true. it's too fragile.
Reply
prashantfx tntsunrise
yeah :-)
Reply
LukaszMosinski tntsunrise
I believe that this 200 pips up it is the signal that will drop soon and 1,4500 is the limit.
Reply
Nice
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out