FUNTRADER-Vera
Long

2806 WKP1 USDCAD keep north a swing with 200-500 pips

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hello traders,

USDCAD has been trying return back inside the band since 3 weeks ago.
Now it looks more clear on that.
It might test 1.385 very soon which is the average band and strong resistance zone on weekly chart.

We got our signal on this pair floating profit already, waiting for TP1 to be hit soon in the first half of next week.

Good luck !
LESS IS MORE!
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Comments

thanks for sharing
i like the idea less is more :D
Reply
@issolom, thanks .
Reply
Good ideia!
Reply
@Marcusll, thank you .
Reply
Hi Vera, is there any possibility DXY /Dollar Index actually forming Bearish Ascending Triangle Pattern on Monthly TF, thereby
forming H&S in weekly TF - which in turn leading to bearish momentum instead of reversal as predicted?

If this so, USDCAD was actually will be going to be bearish instead of bullish, Currently continuing bearish momentum
moving in ascending triangle pattern.

What is your opinion?
Reply
pipshark Stethostrade
@Stethostrade you do know UC correlates with oil? Oil is dropping its value next week. Therefore UC will be bullish
Reply
@pipshark, actually I'm looking at the chart pattern at a bigger picture ; @ monthly TF to be exact whereby price will be retraced to pre-Covid level in January 2020 at 1.32 ;
weekly TF maybe still bullish but just keep in mind that overall TBA is actually bearish.
Fib retracement from the bullish impulsive during early Covid crisis has retraced significantly more than 0.786 level meaning this is a poor retracement or probably is a sign that the price is
heading back to its pre-Covid level.
Reply
FUNTRADER-Vera Stethostrade
@Stethostrade, if you can trade on Monthly chart, and holding a trade with a wide SL, that is possibile.
Reply
@pipshark, seems reasonable. Thank you for sharing .
Reply
FUNTRADER-Vera Stethostrade
@Stethostrade, do you have chart for your idea?
Reply
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