USDCAD Short (Daily Chart)

FX:USDCAD   U.S. Dollar/Canadian Dollar
1189 6 78
Pending Short USDCAD             at 1.3350
Stop 1.3480
Three Confirmation:
1. Price action
2. Retest the Trend Line
3. RSI Divergence
4. Previous Stucture
Trade active: 1.3400 SHORT ENTRY FILLED
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disagree brother.. i think the uptrent is done as of this very moment.
look at the weekly chart we are on the last candle of the month its far more likely that we will head down now all the way till 1.312 or1.3033 for this week. which will close both weakly and monthly charts with recognizable candle formation.. rsi macd etc all in over bought territories for almost 24 hours now... then again i could be wrong.. its just my opinion.. what you are describing would leave the charts in a very messy manor.. which is extremely rare.. remember end of month so withdrawals and portfolio adjustments are now due start with newyork open
+1 Reply
tntsunrise TOP FaisalRehman
Thanks for your comment! what i am thinking is if market give me the price, i will enter a short. I am not saying it will definitely reach the level.
USDCAD in 1h chart is overbought, but in Daily Chart it may still go north.
+1 Reply
Market could be rallying ahead of the FOMC rate decision in anticipation of a sell-off based on another delay in rate hike.
A double top could take us all the way up to about 1.3445 if you ask me...
A re-test of that trendline is in line with that scenario too so I agree!
USD/CAD: Possible double top with 2 possible entries
longs shorts need to be careful, though i wouldn't be against a short term short. Long term time frames have a very bullish cup and handle witch looks to be very bullish and targeting much higher prices. Oil is supporting the dollar on this pair also. Check out my analysis and share thoughts.


Short Oil

My page will have the trade info on both charts
thank so much
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