FX:USDCAD   U.S. Dollar/Canadian Dollar
6352 33 151
10 months ago
The USDCAD             is making a corrective structure , buying the breakout looks like a good idea.
Cad has already moved quite a lot without any higher degree correction so trade this with care.
If is makes one more down move within the correction buying off the trend line might also be a good idea but with higher risk.

Trade with a tested strategy.
Thank you for your support.

10 months ago
Comment: Why is this chart red? it did make the up move?
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GoodLuckbabe
10 months ago
agree anil also waiting for the breakout but it looks like it may come down for one more leg thanks for sharing
+1 Reply
GoodLuckbabe
10 months ago
snapshot
i am sorry for 15 min chart
Reply
GoodLuckbabe GoodLuckbabe
10 months ago
ya you also point out the down leg sorry for miss red
+1 Reply
Kristijan PRO
10 months ago
Great trade setup Anil, thank you! I'm watching it closely.
+3 Reply
not coming down?
+1 Reply
IDEAL
10 months ago
Great.....Possibility Short . (abcde)
+1 Reply
anilmangal TOP IDEAL
10 months ago
yes a possibility
+2 Reply
puretradelife PRO IDEAL
10 months ago
abcde are barriers or sideways, if you refer to Elliott Wave Theory
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chimpsky PRO
10 months ago
nice setup.
+1 Reply
RobbyWestHouston
10 months ago
I am shorting USDCAD. 1. Cad move is too fast and the BOC will do something shortly if it dose not fall. 2. Oil is below world economics, plus price is under the cost of production for incremental oil. 2 big items. Their are may others too. So any tech over sold condition should be sold into or any pattern or line breaks should be sold. No reason for CAD to continue on the way it is going. If one looks at the longer term charts it is very clear cad is in a BLOW OFF move by simply drawing upwards trend-lines.
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IDEAL
10 months ago
Purpose Short Term Up To Channel Support The Chart.
Thank you for your analysis
+1 Reply
IDEAL
10 months ago
https://blog.forex4you.com/wp-content/uploads/2014/01/convergent-Elliot-waves.png
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puretradelife PRO IDEAL
10 months ago
thanks
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IDEAL
10 months ago
expanding Triangle
For

http://www.investoo.com/wp-content/uploads/2015/09/Screen-Shot-2015-09-28-at-12.31.25.png
+3 Reply
BahaHamidi
10 months ago
Thanks man! Always top notch.
+1 Reply
IDEAL
10 months ago
snapshot
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GoodLuckbabe IDEAL
10 months ago
it does not look like gonna break down your expanding triangle as we can see clearly 70 pips gap there it might be run way gap up or reversal gap and if it is runway gap up then we can see 1.60 in couple of days we have to wait for the weekly close will it close below the gap or above let see
+1 Reply
Vostiothenjo
10 months ago
Awesome setup Anil superb keep it up!!!!
+3 Reply
LukaszMosinski Vostiothenjo
10 months ago
Was the break out enough or to small for buy?
+2 Reply
LukaszMosinski
10 months ago
Was the break out enough or to small for buy? Thank you Anil - great analysis
+1 Reply
KVE PRO
10 months ago
Thanks for the heads up on the flag structure, based my recent setup on this.

I'm long already since I had a nice breakout trade opportunity on the 5M chart (yes, 5M chart...;-)) But we'll see if we can get a confirmed breakout on the hourly in the coming hours!

Thanks again for all your efforts and great posts on this great platform!

USD/CAD: Possible flag breakout, harmonics and fib targets
Reply
snickelatti PRO
10 months ago
So is that considered a breakout or does it need to consolidate a bit more?
+1 Reply
OdoFx
10 months ago
1 mil views :) great work!
+1 Reply
Chartistry PRO
10 months ago
Anil, congrats on surpassing 1 million views. That is impressive to say the least.
+1 Reply
Lindsay PRO
10 months ago
When will this ever stop? Still biased to the downside, which is blocking my better judgement to go long.
+2 Reply
IvanLabrie PRO Lindsay
10 months ago
For as long as people continue to keep looking for the top, it'll continue to creep up.
Also, crude oil is fundamentally driven down, it's very hard to reverse this trend. I had a short, booked for 100 pip profit, but the upside is always smoother.
+1 Reply
eniz1806
10 months ago
is here sell setup now??what with this pair
Reply
tradingyouth
10 months ago
Hey Anil would you consider the recent down move a sharp impulse leg for further down movement?
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binaryoption
10 months ago
anil
usdcad where will go???
Reply
Synapse
10 months ago
The chart bases it's green/red tendencies off of current market price compared to the price when you published and the direction you declared. It is not intelligent enough to pick up on that you were looking for the breakout of that structure only.
+1 Reply
leharman PRO
10 months ago
Chart is red because you chose "Long" when you posted it. It was green when it was moving up but now it is going down, so the system recognizing it as an opposite move. It relates to the price at which you post it. You might want to consider choosing "Neutral" when you are expecting Up & Down moves. Hope I am making some sense here..Great analysis by the way!!
+2 Reply
Vostiothenjo leharman
10 months ago
Gr8
Reply
piratachile
9 months ago
Hi Anil, Any wave Idea atm ? long setup?
kind regards
Reply
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