a.b
Short

Bearish setup on USDCAD daily

FX:USDCAD   U.S. Dollar/Canadian Dollar
A bearish setup is forming on the USDCAD             .
Let it prove it wants to go down with price action and confirming indicators.
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menyuken PRO
4 months ago
Agree, the bearish setup has been already started in 4H. Pay attention to the triangle breakout ;)
Reply
a.b PRO menyuken
3 months ago
@menyuken, Which triangle? I'm not shorting until it forms a short setup
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menyuken PRO a.b
3 months ago
@a.b, you could find it from 4H...
snapshot
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menyuken PRO
3 months ago
My thought...any comment?
snapshot
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a.b PRO menyuken
3 months ago
@menyuken, Appreciate your view. However that's a speculation with a 50% chance once it reaches the lower trendline.
Consolidations could extend forever... that's why I'm only interested in breakouts with confirming indicators.
Reply
Swerver
3 months ago
Looking at this as well, I really like this setup.
I have an alternative to the upside, obviously only confirmation either side will sell, the Channel trend-line is part of the confirmation but not all


We are about to hit 618 of the large bearish pattern.
this is is confluence with the 1618 of a Bullish crab formed.
Also coming inline with support at channel Trend-line.
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Swerver Swerver
3 months ago
snapshot
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a.b PRO Swerver
3 months ago
@Swerver, agree.
We have a support on the 240 but nothing much on the daily so I'd be cautious if it bounces
snapshot
+1 Reply
Swerver a.b
3 months ago
@a.b, Yup, reaction vs reversal :P, either way money to be made ;)
+1 Reply
Trillionschifer
2 months ago
Hmmmm... there is serious divergence... and today's candle just broke below your line. I assume its going to drop a bit more then restest, then drop deeper down...

I may have to really keep an eye out for just that....
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