USDCAD: Rising Wedge On My Radar

FX:USDCAD   U.S. Dollar/Canadian Dollar
I've got a few pairs on my radar this morning heading into our Live Trading Session and the $USDCAD is one of them looking at this rising wedge iinto fibonacci confluence and previous structure resistance .

Other include $EURJPY & $AUDUSD while I still have current trades in progress on $EURUSD & $NZDUSD

Good luck in your trading this week gang.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company

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The divergence on the RSI doesn't hurt either. Will be interesting to see how this one plays out.
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Something I was paying close attention to as well. Let's see what happens
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Thanks you.sl Tp?
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Akil_Stokes PRO TontasSinan
I won't know until I see if it's a tradable setup
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araguaney Akil_Stokes
hello Akil i remenber you showing us something like this last week, and how the lows were a bit higher in the wedge, according to your experience you think its likely it breaks to the upside (probability i mean), i dont want a trade suggestion im in a long trade already just wanting to pick your brain. great work in the syndicate men i really like your approach :)
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This is a similar in the fact that they're both consolidation patterns, but slightly different in there formation and completely different in the prediction that I would make off of it
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I think it's likely that we break to the downside typically, but not necessarily for a full reversal in trend, rather just as some relief. We've got CAD rate statement tomorrow as well, so I would keep that in the back of your mind
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araguaney Akil_Stokes
thanks akil appreciated
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no problem
Definetly it's a good analysis also i like the confluence in 1.27 with the .382 in Daily chart.=>
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Sorry it's 1.41
totally i agree with your idea,it should reach 0.382 fib at least
Bearish butterfly confirmed with Bearish divergence.
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Thanks for the comment!
Thank you for sharing your analysis :)
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Akil_Stokes PRO DanielAnthony
No problem Daniel
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