Akil_Stokes
Short

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
www.TradeEmpowered.com -The Premier Online Trading Education Company


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Jimdandy
6 months ago
The divergence on the RSI doesn't hurt either. Will be interesting to see how this one plays out.
+1 Reply
Akil_Stokes TOP Jimdandy
6 months ago
Something I was paying close attention to as well. Let's see what happens
+1 Reply
TontasSinan
6 months ago
Thanks you.sl Tp?
+1 Reply
Akil_Stokes TOP TontasSinan
6 months ago
I won't know until I see if it's a tradable setup
+1 Reply
araguaney Akil_Stokes
6 months ago
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 :)
+1 Reply
Akil_Stokes TOP araguaney
6 months ago
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
+1 Reply
Akil_Stokes TOP araguaney
6 months ago
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
+1 Reply
araguaney Akil_Stokes
6 months ago
thanks akil appreciated
+1 Reply
Akil_Stokes TOP araguaney
6 months ago
no problem
Reply
Abraham
6 months ago
Definetly it's a good analysis also i like the confluence in 1.27 with the .382 in Daily chart.=>
+1 Reply
Akil_Stokes TOP Abraham
6 months ago
Thanks
+1 Reply
Abraham
6 months ago
Sorry it's 1.41
Reply
Boumrah
6 months ago
totally i agree with your idea,it should reach 0.382 fib at least
Bearish butterfly confirmed with Bearish divergence.
+1 Reply
Akil_Stokes TOP Boumrah
6 months ago
Thanks for the comment!
Reply
DanielAnthony
6 months ago
Thank you for sharing your analysis :)
+1 Reply
Akil_Stokes TOP DanielAnthony
6 months ago
No problem Daniel
Reply
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