Akil_Stokes

USDCAD: Outlook on CAD (Live Trading Room Live Stream)

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             has been a frustrating pair for pattern traders, however it has been exceptional for trend following/continuation traders over the past few years.

What I'm looking for hear is a move back down to the $1.40-$1.38 level for another buying opportunity. I know, I know, that's a ways away, however because of that prediction it also sets up the opportunity to look for shorting opportunities in anticipation of that level.

Today in my live trading room we'll be breaking down this pair and seeing if any of those short opportunities exist on the lower time frame. You didn't hear it from me but I may be live streaming the first few minutes of today's Live Trading room so that you can see the analysis. Just head over to my Youtube page around 8:00am New York             time.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
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Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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GoodLuckbabe
10 months ago
BUY ON BREAK OUT OF COUNTER TREND LINE AND HOLDING OF TREND LINE
absolutely wright and agree
+1 Reply
Akil_Stokes TOP GoodLuckbabe
10 months ago
Thanks for sharing your idea.
Reply
GoodLuckbabe Akil_Stokes
10 months ago
you welcome
+1 Reply
Stink
10 months ago
Morning Akil hope your well, I had similar ideas myself this morning, my chart is the 4 hr but on the 60 min looks to have been making a move down

snapshot


Have a great day
+1 Reply
Akil_Stokes TOP Stink
10 months ago
Thanks for sharing, we're going to see if we can hop on that potential down move this week. I'll be cautious though seeing how we're still in a massive bull trend
Reply
Stink Akil_Stokes
10 months ago
Oh for sure, ive been burned a few times over the last week, but lessons learned along the way! :)
+1 Reply
Akil_Stokes TOP Stink
10 months ago
Best of luck, a good win will make those burns an afterthought
Reply
vdubus PRO
10 months ago
just a heads up there is a trend line just above your retracement target
snapshot
+1 Reply
Akil_Stokes TOP vdubus
10 months ago
Thanks for the share Vdubus, i personally don't use trendlines but That's a great warning for those traders who do
Reply
vdubus PRO Akil_Stokes
10 months ago
ok call them speed bumps :) That was a good call Akil nice work
+1 Reply
Akil_Stokes TOP vdubus
10 months ago
thanks
Reply
Heribud
10 months ago
bearish divergent on H4
snapshot
Reply
PateSkpate
10 months ago
After being so bullish for such a long run, it's hard to wrap your head around to look for shorts on this pair even in the short term. But we have broken and closed through lots of structure levels.. So as a TCT that's why you have rules, it takes the emotion out of it! ;) Good find Akil
+2 Reply
Akil_Stokes TOP PateSkpate
10 months ago
Thanks Kenny, and great insight in this comment as well
Reply
Jimdandy
10 months ago
I too am eyeing that 1.40 level as a .786 retrace of the x-a move up since Jan3 and as a 1.27 extension of the a-b move down since Jan 20. I just wish there was a little more structure at that level to the left.
+1 Reply
Paul-FXTC PRO
10 months ago
USDCAD is dead?
+1 Reply
Akil_Stokes TOP Paul-FXTC
10 months ago
with the fomc later today I think the entire market will be dead
Reply
Paul-FXTC PRO
10 months ago
USDCAD Continuation of the Impulse
+1 Reply
Akil_Stokes TOP Paul-FXTC
10 months ago
Thanks for sharing your idea
Reply
Paul-FXTC PRO Akil_Stokes
10 months ago
thanks for accept that
+1 Reply
Akil_Stokes TOP Paul-FXTC
10 months ago
No problem, that's what this site is for. For different traders to see different outlooks on the markets and hopefully learn from it
Reply
Paul-FXTC PRO
10 months ago
USDINDX - More Downside ?
Reply
Paul-FXTC PRO Paul-FXTC
10 months ago
Hey Akil, Thanks for answering, how do you see the USDINDX, it seems like the News will catalize more downside ?
+1 Reply
Akil_Stokes TOP Paul-FXTC
10 months ago
I have no clue what the news will bring. I'll just wait until it happens and base any trades off of what the chart tells me
Reply
arif_awan
10 months ago
Strong short.
Reply
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