tntsunrise
Short

USDCAD WEEKLY AB=CD INSIDE A WEDGE!

FX:USDCAD   U.S. Dollar/Canadian Dollar
2539 26 61
11 months ago
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!
11 months ago
Trade active: 1.4370 order filled.
1.4400 pending
11 months ago
Comment: Nice reversal! POWER OF AB=CD
11 months ago
Comment: huge spike to 1.4500 in just 5 mins. get out from this trade first and decide whether to re-enter later.
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Link77 PRO
11 months ago
I am also watching this and getting ready to short. Nice analysis as usual Mr. TNT!
Reply
tntsunrise TOP Link77
11 months ago
Cheers!
Reply
CFDTradingo PRO
11 months ago
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
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Peterjgq
11 months ago
Great analysis TNTsunrise,, Thankyou
Reply
thanasis
11 months ago
Great analysis TNT sunrise..,, Thank you
Reply
GoodLuckbabe
11 months ago
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
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Fibtree
11 months ago
I will be in on this one too, nice find!
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Fibtree
11 months ago
I have also entered part of my position at 1.435 and have the rest pending at 1.44
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tuamen
11 months ago
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
tntsunrise TOP tuamen
11 months ago
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
11 months ago
It seems that unfortunatley we lost our lunch.... :/
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tntsunrise TOP tuamen
11 months ago
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
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gbfx tntsunrise
11 months ago
is it good to enter for sell now, i see it coming down now. thanks
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tntsunrise TOP gbfx
11 months ago
yes . a pin bar
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nahidtex
11 months ago
yes good analysis :) appreciate it
Reply
prashantfx
11 months ago
What ia the stoploss
Reply
tntsunrise TOP prashantfx
11 months ago
currently i set 1.4555
+1 Reply
prashantfx tntsunrise
11 months ago
okay thnx for reply :-)
Reply
FawadJawed
11 months ago
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
prashantfx
11 months ago
what a rally in dis pair today almost 200 pips up
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tntsunrise TOP prashantfx
11 months ago
tha's crazy. and oil did not drop too much. a lot of breakout limit order was triggered i think.
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prashantfx tntsunrise
11 months ago
yeah you are right ...
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prashantfx
11 months ago
i think it's batter to stay away from all CAD pair for few day's and wait for strong reversal signal....
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tntsunrise TOP prashantfx
11 months ago
true. it's too fragile.
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prashantfx tntsunrise
11 months ago
yeah :-)
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LukaszMosinski tntsunrise
11 months ago
I believe that this 200 pips up it is the signal that will drop soon and 1,4500 is the limit.
Reply
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